DOGE is going up and hitting new highs while finding support over a 200EMA. The price is currently in correction phase but expected to break out of the trendline soon. We can enter a long position when it breaks the $0.16074 level. The price is expected to test the current swing high.
WAVES is currently in an uptrend and trading near the 200EMA. The price is consolidating over a support zone, and there's an expectation for it to bounce off from there soon, continuing its bullish momentum. To go long, wait for a breakout of the $2.614 level.
OMNI recently got listed in binance and now kept on dumping/ correcting. Price moving inside the downtrend channel pattern, and there's no clean area of support looking left. Only a buy can be taken from the supporting Trendline, which is also a high risk entry, to take is accordingly with lower lots.
After a hotter than expected PPI reading yesterday, Bitcoin resumed its choppy price action with every 4 hour candle closing within a 1% range. The key right now on any trades is to be ready to react quickly as we did with the trade yesterday. We are still seeing the $61.5k holding as support on every 4 hour close, so this is a scalp area of interest until it is broken.
Very important CPI reading today, and we should be aware that Bitcoin dominance is rising this morning. So if we get a really bad CPI reading, and a flash dump on BTC, alts could be hit very hard.
Bitcoin is looking weak so far this morning, and has now accepted back under the orange trendline after holding as support yesterday. $61.5k area (Weekly Open) is a level we want to see hold on 4 hour closes.
This is also the weekend resistance level which we are looking to see continue to hold as new support. Be careful of volatility today, on both sides, as we have PPI and Jerome Powell (Fed Chair) speaking.
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Yesterday Bitcoin had one 4hr candle close above the $61.1k resistance that we were watching. This was temporarily held as support but has since accepted back below. This is because we have very very low volumes this weekend. With such low volumes it makes continuation very difficult. Today we look for the breakout again, and if the volume picks up into the weekly close then we could see $61.6/8k minimum. For support, we are looking to see $60.6k (Monthly Open) maintained, but I am still looking at areas under $60k now.
The winning trade right now is to wait for a clearer picture and increased volumes!
Yesterday we saw Bitcoin dumped 5% on little news. Right now Bitcoin is respecting $60.6k ( Monthly Open) as 4 hour support with every candle closing above this. However the bounce so far is pretty weak, when we compare this to Thursday's 4% reaction from this level.
BTC needs a 4 hour close above $61k then we could see a $61.8k retest at the red zone on the chart. If $60.5k is lost on a 4 hour close then we can very quickly lose $60k aswell. Bigger levels of interest developing lower!
The price is currently testing the resistance area. A small uptrend line is acting as support. It is recommended to wait for a clear breakout above the resistance area before opening new long positions. Conversely, if the price breaks below the uptrend line then there may be an opportunity for short entries.
PERP is forming lower lows (LLs) and lower highs (LHs) below the 200 exponential moving average (EMA). The price is currently facing rejection and reversing from the resistance zone. It is expected to continue declining and will likely test the previous swing low.