ADA/BTC Tactical analysis / Buy opportunity
-We have bounced on a major weekly support, and have made some higher lows on the daily.
-We broke the previous high on the 4H and started retracing.
-Should see the .705 retrace to that 4H breaker and attempt to break the next resistance.
Daily view:
Terms:
-Bullish breaker - an orderblock (a green or red candle, in this case green) that precedes a move that took out a previous swing low, but was later nuked through. If the price comes back to that block, it is expected to act as support
Colors I use for a more organized chart:
15 min - Cyan
1H - Gray
4H - Red
Daily - Green
Weekly - Orange
-We broke the previous high on the 4H and started retracing.
-Should see the .705 retrace to that 4H breaker and attempt to break the next resistance.
Daily view:
Terms:
-Bullish breaker - an orderblock (a green or red candle, in this case green) that precedes a move that took out a previous swing low, but was later nuked through. If the price comes back to that block, it is expected to act as support
Colors I use for a more organized chart:
15 min - Cyan
1H - Gray
4H - Red
Daily - Green
Weekly - Orange