We have a new gap that is expected to be filled in any time soon. This might drive the price upsides before another correction.
10745- not Filled
10485, -Not yet
9215 -Not yet
8840 USD. - Not yet
https://www.tradingview.com/x/GnujkPgU/
This is my entry for the 100DAYSOFTA challenge, Tuesday 8th September 2020.
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I am joining a challenge by a group of traders. The challenge is #100DAYSOFTA. Some of the people in this group have posted on $Youtube, $Twitter but I will be posting mine on Hive.
The convener of this challenge is https://twitter.com/CryptoluXP*
However, the frequency might not be daily but it will be sequential.
Having said that, here is what I have:
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4 hr
Right now, we are having some kind of support below 9900 USD. This price has been supporting the downward trend. We have ST as short anyways and while that has been pushing the price downwards, we know from past price action that the price will move towards the resistance before being rejected the first time. Therefore, we need to watch out if we will get the upward push right now or sooner. Willy is at oversold too and it means we either have to pump or dump more. From the wavetrend, we have the red dot which signifies a downward move soon.
https://www.tradingview.com/x/JGIvmTeT/
1h
We have ST as short on this TF. And since then it has been dumping and real hard. Right now we have a kind of range in which the price is following. We have Willy at oversold, but already forming a bullish crossover. also the wave trend now has a green dot. If the price is able to cross the resistance then we may see some good upward price action.
https://www.tradingview.com/x/ArHq3NxU/
30 mins
The trend changes fast enough here and this means a new trend can easily be spotted on this TF. We have the ST also acting as a resistance and whenever the price moves closer, it gets rejected. Willy is looking to indicate a dump, However, the wave trend already has a green dot.
https://www.tradingview.com/x/iL8Av7F0/
Extras
15mins and 5 mins charts respectively.
https://www.tradingview.com/x/QziuVc6n/
https://www.tradingview.com/x/M6T4mZbr/
Summary:
4hrs ST is short
1hr ST is short
30 mins ST is short
My Position
It is good to wait for the 4hrs trend before we place a trade.