We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe we can see the price has dropped off quite a bit from the highs. We are retesting a key level at 59k but currently we have yet to find support in this area.
On the h4 timeframe we are in the sell zone currently. We have two confirmations lining up including the 38.2% fibonacci level and the weekly resistance level. I will look to get short on this pair and target the -27% fibonacci level.
On the weekly timeframe we can see the price has dropped off quite a bit from the highs. We are retesting a key level at 59k but currently we have yet to find support in this area.
On the h4 timeframe we are in the sell zone currently. We have two confirmations lining up including the 38.2% fibonacci level and the weekly resistance level. I will look to get short on this pair and target the -27% fibonacci level.