Today I made sure to be in time with my analysis and not delay it for one day, so let's see where we are with out assets and pairs.
On the monthly time frame, at the time of writing, price is way above the monthly open and above the bearish gap as well, which is a good sign if you're bullish. The current candle closes on Wednesday, so we can't take this candle for granted yet. Close above the bearish gap, hold that level and the next liquidity pool I'd bee watching is above $0.0988.
As it is marked on the chart, if the current candle closes above $0.0373 (chances for that to happen are high by the way), this confirms $0.0373 as swing low.
On the weekly time frame, after two bullish candles with long upside wicks, this week so far, we have a bullish candle with longer body than the two previous ones and a shorter upside wick.
If you zoom in further, you can see last week's candle closed above the 200 SMA, which means implicitly that this week's open was above the 200 SMA and as we have a bullish candle so far, price is still trading above the 200 SMA. This is good news if you are bullish.
If this bullish momentum continues, I'm looking at $0.0663 to be swept next. If we get some weakness and we get a reversal, a retest of the weekly order block (OB) is in the cards.
The daily chart looks nice for a change. Price confirmed a swing low, or a bottom on the 18th of August and has been grinding up slowly ever since, without any pullback. We had a little sideways period between the 22th of August and the 10th of September, after which price has been going up slowly. This move is called slow grind and usually results in a bigger move into the same direction, but we'll see.
The last order block (OB) is set at $0.0562, which can be retested. On the upside, the level to keep an eye on is still $0.0663.
On the h4 time frame, after the two big (scam) wicks we had in the middle of September, price started a slow grinding to the upside. This may seem annoying to those who think price is going to blow the roof off in one day, but this is a healthy and needed move.
At the time of writing, price is retesting the bullish gap on this time frame. If this gap can't defend price, it's possible to revisit the lower one, which has to hold, if we want bullish continuation. On the upside, I'd be keeping an eye on $0.0627 and $0.0663.
$BTC seems to be finding support at this level and accumulating a little, before making the next move.
Immediate levels to watch are $87,383 on the upside and $82,800 on the downside.
ETH/BTC is still trading sideways, but the good news is, the bullish gap is holding nicely. Not much has changed here since last week.
Next week's economic calendar is different from this week as we are going to have two red folder days, with means extra volatility, so stay safe, don't let the market chop you up.
Remember, technical analysis is not about forecasting price, but about reacting to what price does.
As always, this is a game of probabilities, not certainties. Also please note, this is not financial advice, it's my view and understanding of the market.
Do your own research, make your own decisions as you're taking the risk.
All charts posted here are screenshots from Tradinview.
Come trade with me on Bybit.
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