30 May My Technical Analysis
Welcome to the 18th day spent in the $BTC band.
Except for the band limits as shown in the chart, unfortunately, it is not possible to take a lot of action before the 4h closure. Since the area it is in is resistance, you will either apply a short risk and stop over resistance strategy from here, or a strategy to rise to 33-34 with a stop below the resistance after a 4h close on the resistance.
Since the US is closed today, price movements lack a bit more confidence for me, so it would be useful to be cautious. Obviously, the current view gives the short side an advantage, but in order for this to be more meaningful, a rise to 31's and a rejection movement from here again, then a real short condition occurs. With a closing of 1-2% above 31 and invalidation, that is, on the condition of being a stop..
﹒Here, while the possible uptrend continues, the selling opportunity and the rises around the middle band do not break the downtrend.
﹒At best, I wouldn't say bottom without touching one of the green bands; continue daily trading.
If hourly closes start to come under ﹒30270, downside risk starts. The movement in the Asian session is very unpleasant, it is weak as a bottom formation and contains SP ❗️
$ETH failed to return to the gray zone, the old band.
It may decrease until 1811/1785.
Closing on gray can be used as an invalidation / stop.
Here, it would have been more reasonable for me to see weakness in 1933/1965 and a short-term game plan that could be entered from there, but now the situation has developed a little faster.
Good luck with,
It is not investment advice.
Graph Source: Tradingview
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