Bitcoin has been holding current Support for an extended period of time, this creates liquidity below the level which allows for a bullish bias.
A Deviation of the range low will allow for a Failed Auction type of entry for a long trade. This will need to be backed with increasing volume for a rise back towards the Range High.
ETHBTC’s market structure has been bearish for a considerable period of time, price action is currently testing the POC, Bullish Order Block and the Dynamic S/R Support for a potential reversal zone.
Re-testing the lower Daily S/R Support will confirm a Rounded Bullish Retest, this will also tap into the .618 Fibonacci and confirm a higher low in the local up-trend.
ADAUSDT is now trading around the Channel High, this region is in confluence with the Daily S/R Support and the .618 Fibonacci. Testing support for a bounce into the Fibonacci ratio allows for an SFP Model Entry.
Confirming a bullish retest at this region of support needs to be backed with increasing volume, the current volume profile has declined visibly below average.
A Falling Wedge pattern can be observed, the apex zone is in confluece with a key low. This increases the probability of the region being tested with a Swing Failure type of price action.
Confirming a rejection here will make the lower Bullish Order Block S/R the objective. Testing the region will fill in the price inefficiency, ths area is also in confluence with the .618 Fibonacci and POC S/R Support.
Bitcoin has been trading in a local uptrend, respecting the channel boundaries for a bullish expansion. Testing the channel low support will be in confluence with the Daily S/R.
The current price action is rotational within the range, it has lost the range-mid showing weakness locally, trading towards the range low should be monitored.
Price action has been consolidating on the lower timeframe at an area of confluence, that is the .618 Fibonacci, VWAP S/R Support and the Channel Dynamic S/R Support.
