We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and demand zones, market structure, candlestick analysis etc. On crypto we are looking at the Daily and 1 Hour timeframes to take trades when they are ready.
On the weekly timeframe last week closed bearish rejecting the resistance level that we marked. I believe this pari could have further downward movement this week. The next support level is at 155.600 area.
On the H4 timeframe we have a lower zone at 155.000 area. If price makes it way down to that area then we may find some support. I am looking for price to retest the neckline that was broken on the head and shoulders pattern that formed at the high point. 157.000 is the target retracement area.
On the weekly timeframe last week closed bearish rejecting the resistance level that we marked. I believe this pari could have further downward movement this week. The next support level is at 155.600 area.
On the H4 timeframe we have a lower zone at 155.000 area. If price makes it way down to that area then we may find some support. I am looking for price to retest the neckline that was broken on the head and shoulders pattern that formed at the high point. 157.000 is the target retracement area.