8 USDT is resistance on the Daily and the Weekly.
There's a Trend-based Fib resistance around 7.85 USDT on the weekly.
The 7.85 - 8 USDT area is also a "bearish" order block/FTA (first trouble area) on the 8H.
"Bearish" order block/ FTA = last green candle before downtrend.
It's the area where price has a (relatively) strong reaction to the downside (bullish order block is vice versa).
This level also aligns with the 0.786 Fib resistance.
Let's see if price reaches these levels. Might not get higher than 7.7 USDT.
On the 8H there is a bearish order block. And 7.7 USDT is confluent with the 0.618 Fib resistance.
There's a Trend-based Fib resistance around 7.85 USDT on the weekly.
The 7.85 - 8 USDT area is also a "bearish" order block/FTA (first trouble area) on the 8H.
"Bearish" order block/ FTA = last green candle before downtrend.
It's the area where price has a (relatively) strong reaction to the downside (bullish order block is vice versa).
This level also aligns with the 0.786 Fib resistance.
Let's see if price reaches these levels. Might not get higher than 7.7 USDT.
On the 8H there is a bearish order block. And 7.7 USDT is confluent with the 0.618 Fib resistance.
Trade closed manually:
Closed the short manually.
Price reached my target of 7.85 (and went a bit higher).
Price is now near the daily trendline and a bullish order block.
Looking for longs now. 1st target 9.25USDT.
Price reached my target of 7.85 (and went a bit higher).
Price is now near the daily trendline and a bullish order block.
Looking for longs now. 1st target 9.25USDT.
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