As BTC leads the crypto market for this analysis bear the following in mind:
----- BTC is currently in a tight range between 20500's and 18500's.
----- A break above the current highs (20500's) will confirm the narrative for the RVN idea.
----- A break below the current lows (18500's) will see the entire crypto market turn bearish(er)
Based on the current retracement phase undergone by RVN we may expect a mark up to occur.
The 4H imbalance has yet to be triggered and entered in order to complete the full retracement. We may expect some wicks and possible fakeout as part of the 'weak to strong hands' phase (Wyckhoff distribution).
A break below the 0.3670's would invalidate the current trade idea.
The main points of interests (TP's) are situated around the recent highs (0.63355's) and the higher time frame (daily) range laying around the 0.9280's.
Stay safe and never risk more than 1-5% of your capital per trade.
The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
----- BTC is currently in a tight range between 20500's and 18500's.
----- A break above the current highs (20500's) will confirm the narrative for the RVN idea.
----- A break below the current lows (18500's) will see the entire crypto market turn bearish(er)
Based on the current retracement phase undergone by RVN we may expect a mark up to occur.
The 4H imbalance has yet to be triggered and entered in order to complete the full retracement. We may expect some wicks and possible fakeout as part of the 'weak to strong hands' phase (Wyckhoff distribution).
A break below the 0.3670's would invalidate the current trade idea.
The main points of interests (TP's) are situated around the recent highs (0.63355's) and the higher time frame (daily) range laying around the 0.9280's.
Stay safe and never risk more than 1-5% of your capital per trade.
The following analysis is merely a price action based analysis and does not constitute financial advice in any form.