LDO/USDT TECHNICAL IDEA

22 gen 2023

Long term technical idea - short term bearish scenario.

Locally lots of resistance based on:
- 2 fib retracements:

• from latest higher high to latest higher low 0618-066; 0.786;
  
• bullish trend based fib retracement 0.5, 0.618
  - Bearish engulfing last 1D candle;
  - CVD:
  
• bearish divergence;
  
• taker sells crossing taker buys
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  - RSI divergence (lower highs while price higher highs)
  
  Thesis: retrace to 0.5-0.66fib, then possible uptrend continuation towards 1-1.13 trend based fib
  Second thesis (less probable): back to 1.13 bearish harmonic pattern of this HTF price action (not drawn) around 0.060 USDT