Since I track LINKBTC I figured it'll be a good idea to look into ETH due to it having more volume. I did a top-down analysis but only to the H4 chart. Let's look into this Crypto pair, track it and potentially make some successful moves from it.
Although I do believe the bears are going to enter the market either this week or the following, I am overall bullish. It's important to build Confluence when considering to execute a trade so what I look for when compiling information is at the very least, three (3) or more signs as to why I should take a position. Let's begin!
Bias: Bullish
Confluence (at least 3):
1. Order Block at high end of the curve was breached. Precursor.
2. Strong bullish uptrend on multiple TFs.
3. Huge Order Block formed right above PPZ (0.01233874).
4. Counter TL was broken by price to head further up.
5. Hidden Divergence from Weekly's RSI is signaling for a bullish continuation.
Like I stated up above, the bears are likely to enter before Price Action hit higher levels. Even though that zone was breached it can still tumble down, and that would be great if it did due to that nice profit margin that's waiting below. We shall see.
Although I do believe the bears are going to enter the market either this week or the following, I am overall bullish. It's important to build Confluence when considering to execute a trade so what I look for when compiling information is at the very least, three (3) or more signs as to why I should take a position. Let's begin!
Bias: Bullish
Confluence (at least 3):
1. Order Block at high end of the curve was breached. Precursor.
2. Strong bullish uptrend on multiple TFs.
3. Huge Order Block formed right above PPZ (0.01233874).
4. Counter TL was broken by price to head further up.
5. Hidden Divergence from Weekly's RSI is signaling for a bullish continuation.
Like I stated up above, the bears are likely to enter before Price Action hit higher levels. Even though that zone was breached it can still tumble down, and that would be great if it did due to that nice profit margin that's waiting below. We shall see.
*NOT TRADING ADVICE*