2022-04-15 09:33:15
Daily update:
Despite the H4 trend rejection, in order to see downtrend continuation we need to see lows broken and lower lows printed.
Until then we have to remain open to the idea of a potential bottom forming, especially considering D1 is fully reset.
No reason to rush into more position until we see another clear sign of weakness.
Continue to monitor H1/H4 trends and how we react.
For example both BTC and ETH lost H1 trends on these impulses down. Now they're potentially finding a local low, if they bounce you want to watch H1 trends.
- If rapidly reclaimed this could be a sign of strength.
=> in that case you can close some short you might have opened recently and try to scalp a H1 long continuation. Risky and with max target H4 trend and tight invalidation below H1 trend.
- If flipped resistance this could be a confirmation market is about to see another leg down (for example to retest the 39k lows).
=> In that case you could double down on weak ALTs like LUNA and SOL today (or whatever alt you've been shorting recently). With invalidations above H1 trends and targets previous lows.
Voilà that's it imo. Have fun!
905 viewsFirelogger, 06:33
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