#BTC update
As clearly plotted on the chart, we have printed lower lows since our last run on $48k. Since then we have had some tries at reversing the trend but we didn't manage to keep the higher highs.
We are now in a historical accumulation zone ranging from $37500 - $39100 and breaking the local structure can allow the price to test the descending trendline that has formed along the way of the downdrend.
For the moment we do not have any clear bullish signs and structures on high timeframes, we will need to continue to look at faster timeframes as 1h and 15minutes in order to find scalps.
What are we looking for to become bullish?
1 - Break the accumulation zone, plot a higher high, this would allow us to start thinking about longing on TF>15m
2 - Break the trendline - This would open the way on 4h based trades.
Fundamentals
FED messed the market once again, with an interest rate of 50BP , every time they make a rate hike announcement, the market goes into panic/paralysis.
Final word:
These levels look juicy and could potentially host a lot of ALTcoin portfolio entries, however keep in mind that we have no bullish confirmation yet.
As clearly plotted on the chart, we have printed lower lows since our last run on $48k. Since then we have had some tries at reversing the trend but we didn't manage to keep the higher highs.
We are now in a historical accumulation zone ranging from $37500 - $39100 and breaking the local structure can allow the price to test the descending trendline that has formed along the way of the downdrend.
For the moment we do not have any clear bullish signs and structures on high timeframes, we will need to continue to look at faster timeframes as 1h and 15minutes in order to find scalps.
What are we looking for to become bullish?
1 - Break the accumulation zone, plot a higher high, this would allow us to start thinking about longing on TF>15m
2 - Break the trendline - This would open the way on 4h based trades.
Fundamentals
FED messed the market once again, with an interest rate of 50BP , every time they make a rate hike announcement, the market goes into panic/paralysis.
Final word:
These levels look juicy and could potentially host a lot of ALTcoin portfolio entries, however keep in mind that we have no bullish confirmation yet.
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