WEDNESDAY
5-JUN
Price took out LW low but did not manage to take out the previous one.
It is now rallying, with Bitcoin seemingly leading the way.
Price is now targeting the upside LQ above Y high after rejecting the lows this morning.
Further upside LQ could be found above Monday's high but that seems too far right now.
On LTF price did not manage to close below LW low, which could be a bullish sign as buyers seem to be stepping in around $235.
Price is currently within the H4 sell zone that caused LW stop run and it's important how it reacts from it.
If sellers start showing up and price is unable to break the zone, then the next likely target would be the further downside weekly LQ around $230.
This H4 zone could be the decision point for this week.
thanks for this analysis
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You're welcome. Glad it was helpful. Let me know if the charts are well visible or they need to be in higher resolution as I haven't figured that out.
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