BTC/USDT
Price needs to stay above 40,958 (200-MA) to reach the next distribution target of 46,507.
If it stays below the 200-MA level then we might see a pullback to 36,137 which is a strong accumulation zone.
Trading Idea
Crypto Swordfish team will open a 10% checking position when the price closes above the 200-MA with a distribution target of 46,507. We will keep laddering up by adding 10% to our position till we get to the distribution zone. (We will watch 42,927 as a key level as a well and a potential profit-taking point as well if the price fails to sustain after the first touch and first test.)
If the price closes below 38,729 we will open a short position with an accumulation target of 36,137.
Our thesis is based on the price action sustaining the 200-MA or closing below an immediate support point.
Team Crypto Swordfish
Price needs to stay above 40,958 (200-MA) to reach the next distribution target of 46,507.
If it stays below the 200-MA level then we might see a pullback to 36,137 which is a strong accumulation zone.
Trading Idea
Crypto Swordfish team will open a 10% checking position when the price closes above the 200-MA with a distribution target of 46,507. We will keep laddering up by adding 10% to our position till we get to the distribution zone. (We will watch 42,927 as a key level as a well and a potential profit-taking point as well if the price fails to sustain after the first touch and first test.)
If the price closes below 38,729 we will open a short position with an accumulation target of 36,137.
Our thesis is based on the price action sustaining the 200-MA or closing below an immediate support point.
Team Crypto Swordfish