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DAILY CRYPTO TECHNICAL OUTLOOK

BTC

BTC still on the major 4H support has created a smaller range of intra-day price movements on the 1H. The support and resistance zone of this range have been tested a few times already and are holding up nicely. The range is tradeable as you can simply long at the support and short at the resistance. Make use of tight stops and manage your risk properly.

ETH

Having broken through the major support zone. Price is in a bit of consolidation at the moment although it seems to be gaining some bullish momentum given the trendline support that has formed. We’ll see how price moves from here as there’s a stronger trendline support below.

BNB

Like I said in the previous outlook yesterday. BNB was bullish and it has surpassed the $300 mark that was outlined. Currently has hit a resistance zone and we might see some consolidation and a retracement and then if the resistance zone fails. We continue the run upwards.

SOLANA

Sol has found support and the zone is holding up really nicely. I expect some bullish momentum in the coming days. If both the support zone and trendline support holds as were currently in a downtrend.

MATIC

The resistance zone is rejecting price at the moment and we might see a move down to the trendline support at the very least. How both the resistance and trendline support holds up will determine the next bias here.

Featured image source: willywealthtrading.com

Comments

  • Avatar
    Felix Aikhuele
    August 4, 2022

    My entry was $22,800 just before this post dropped. I’m in good profits.

    Securing it as it progresses

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