Hello friends!
Today I tried to keep the video short. Here are the highlights:
Another factor to consider, which I did not discuss in the video, is that friday's BTC options expiry max pain is $37k. The June 25 expirations are quite large, but this week's a much smaller. Still, it is possible that BTC prices will gravitate towards $37k, which would limit or delay an ADA rally at the end of the week. I do not see this as a major factor, but one to keep in mind.
Good luck and good fortune!
Today I tried to keep the video short. Here are the highlights:
- Discuss the crossover pattern in the 3H, which in this case is likely to lead to a drop in prices once the LSMA crosses below level 50 and B-bands expand. A good pattern to know
- Crossover down may cascade to higher timeframes intraday and led to prices testing 1.50 and potentially breaking down towards 1.43
- Potential a crossover to the upside to happen in 2-3 days, depending on how low prices fall in shorter timeframes, which could expand B-bands. If combined with rising green and white EMAs (above level 50) could push prices to 1.90 or test 2.00 (note that we need to wait for confirmation on this)
- Although a drop below 1.50 may not be a highly attractive entry zone, it should be considered if a rally may come at the end of the week. Caution is advised for any short positions unless doing it in the scalping timeframes.
Another factor to consider, which I did not discuss in the video, is that friday's BTC options expiry max pain is $37k. The June 25 expirations are quite large, but this week's a much smaller. Still, it is possible that BTC prices will gravitate towards $37k, which would limit or delay an ADA rally at the end of the week. I do not see this as a major factor, but one to keep in mind.
Good luck and good fortune!