Hey, here is my short update!
Today we could see probably a slightly . We are below the counter which is not a good sign but we didn’t get a continuation leg down after the yesterday’s counter which should be a good sign. Actually, from the current market situation, this is a pretty rare case that we didn’t get any from sellers after the close below the mentioned . Yesterday’s candle close was the lowest candle close in this year but luckily there are not so much selling pressure, At The Moment!
Altcoins are slowly climbing upwards and probably this is the biggest indication that we might see a pump at least into the round number area at $3,500 or to the red line which is the strong $3,628. Confirmation comes after the 1H candle close above the major counter which will indicate that then we are back in the “safe zone”. On the early morning, we made a breakout above from the smaller counter .
So, a 1H candle close above the major counter will confirm short-term bullishness, criteria:
1. Back above the major counter trendline/up-trendline
2. We made a breakout above the smaller counter which is down and it was pretty strong resistance line!
3. If the 1H candle gets a close above the major then the 8 & 21 golden cross will confirm short-term momentum.
4. Altcoins are on the daily green ( + side)
If this scenario starts to show some price action criteria (bounce back from current retest area, patterns etc.) then I will say it on the update section below the idea post!
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All the best!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Published at Wed, 12 Dec 2018 07:27:42 +0000
