GAS 2H
A potential bullish butterfly is forming with price currently on the way to "D" Leg. It is now in a key area where price consolidates for about 4days before the massive upwards rally. A break below this will send the price to $9 zone, inline with our initial prz of BC*161.8 at $9.978. This area is also a previous resistance, BMS and flip support where price successfully tested as seen on the pullback fib ( Green Arrow ). An orange trendline also shows a dynamic support level. Overall PRZ is indicated having the main (XA*127.2) lined-up with the trendline.
In case price hold grounds on the $13 zone, a potential pullback will be viable up to the trendline resistance + fib levels since there has been a 6 consecutive bearish candle already and no retracement has been done so far.
Trade safe. ☝️🤫😁
A potential bullish butterfly is forming with price currently on the way to "D" Leg. It is now in a key area where price consolidates for about 4days before the massive upwards rally. A break below this will send the price to $9 zone, inline with our initial prz of BC*161.8 at $9.978. This area is also a previous resistance, BMS and flip support where price successfully tested as seen on the pullback fib ( Green Arrow ). An orange trendline also shows a dynamic support level. Overall PRZ is indicated having the main (XA*127.2) lined-up with the trendline.
In case price hold grounds on the $13 zone, a potential pullback will be viable up to the trendline resistance + fib levels since there has been a 6 consecutive bearish candle already and no retracement has been done so far.
Trade safe. ☝️🤫😁
Commento:
GAS Update.
Price has somewhat slowdown on the 2H timeframe, resting for a while in range of $8-$10 after an initial dip to $7.3. On the 15m timeframe, i saw a Bearish Bat pattern during the upward move and warn for a $10 zone area to monitor. After that correction up to $10 level, price has consolidates so far, going down slowly, i'd say monitor the price around the $1.74xx area for signs of reversals towards the upside. if this area is violated, we then continue to our main prz levels.
Trade safe.
Price has somewhat slowdown on the 2H timeframe, resting for a while in range of $8-$10 after an initial dip to $7.3. On the 15m timeframe, i saw a Bearish Bat pattern during the upward move and warn for a $10 zone area to monitor. After that correction up to $10 level, price has consolidates so far, going down slowly, i'd say monitor the price around the $1.74xx area for signs of reversals towards the upside. if this area is violated, we then continue to our main prz levels.
Trade safe.
Price brokedown below the $13 threshold and is now inside our prz, ranging between the BC*161.8 & XA*127.2, with current low of 7.303, bouncing in a support level. Although main prz has not been touch yet, this is now a good area to look for a reversal confirmation. Since there is not much history for the coin, we can only rely on the confluences we see on the charts.
Trade safe ☝️🤫😁