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Set-up Update- LEND nearing buy zones
Hi Traders and thank you for joining another one of quick updates. My Name is Shayan and I'm a Wyckoff trader
We've been tracking BINANCE:LENDUSDT since Sep 06 and so far it's done well!
The update above is following this previous post:
Be sure to catch yourself up with the price action as well as effort vs result analysis in that post so that you don't get blindsided by aggressive price action (PA) moves
The market had a strong break of a previous resistance level and lost momentum at the next resistance target, so far the PA is logical and we're sticking with the bullish picture. The swing is intact
Given the lowering supply on the correction back below the 0.65 level, we can expect an attempt to rally. If the attempt fails (if we fail to break back above AND close above the 6.5 - 6.6 line), then we'd be logically testing the
confluence level once more, or end correction somewhere around 0.6. Unless supply accelerates in such a move, we'd still be thinking it's part of the bullish picture!
If you liked my analysis or are following through, please don't forget to give it a thumbs up! That'll let TradingView know my articles are helpful and make our community larger
We've been tracking BINANCE:LENDUSDT since Sep 06 and so far it's done well!
The update above is following this previous post:
Be sure to catch yourself up with the price action as well as effort vs result analysis in that post so that you don't get blindsided by aggressive price action (PA) moves
The market had a strong break of a previous resistance level and lost momentum at the next resistance target, so far the PA is logical and we're sticking with the bullish picture. The swing is intact
Given the lowering supply on the correction back below the 0.65 level, we can expect an attempt to rally. If the attempt fails (if we fail to break back above AND close above the 6.5 - 6.6 line), then we'd be logically testing the
confluence level once more, or end correction somewhere around 0.6. Unless supply accelerates in such a move, we'd still be thinking it's part of the bullish picture!
If you liked my analysis or are following through, please don't forget to give it a thumbs up! That'll let TradingView know my articles are helpful and make our community larger
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