Watchlist Update (Mar 06 2023)

CryptoExplorer Author

Posted On Mar 06, 2023 |

This article summarizes the watchlist posted on Discord. As always: Read the charts, find the boxes and trade the boxes!

@here **BTC**

The arrows have played out pretty spot on, rare that this happens but I feel like a whizz when I see it play out as I have drawn the arrows. But on a serious note I am torn here. The technicals suggest that BTC is due to come down more as its forming a perfect bear flag. I do also think the general direction is down for the market so I'm not looking to get Long that's for sure. However, the bearish view is now becoming more consensus so my feeling is we could have a small move higher before a further move lower to the main target area of the main yellow box. In all honesty its difficult to call here short, term but in the medium term, I still think we go lower.

**ETH**

Also in a bear flag pattern and underneath the main uptrend line once again that has been a support . I note that we're approaching over, sold territory and I am feeling we could get a retest of the underside of the uptrend line and then reject further from there. Again, I would sit tight and wait, Not wanting to play Longs, and would want price to bounce a tad higher (maybe $1,600) before I look for more Shorts.

**SOL**

So, we predicted the move down to the horizontal support of $20.40 and we've now had two touches of that level. I do think we can get a slight bounce before further downside, however my feeling is we won't reach the orange box. I think the level we could get to is $22.00, $22.40, however I am not looking to Long up to this level. I'd rather sit and wait, see where we go up to and then Short from that level back down.

**MATIC**

Moved against a deep downtrend line and close to the over, sold territory. If we get a close around $1.10 that may give us a bull div and I may consider a short, term Long. I won't Long with any real size though as I would be trading against the more general trend.

**DOT**

In a very similar spot to MATIC in that I do think we can bounce here. I do want to see a bull div be formed ideally and get fills for Longs in the Yellow box. Again, I wouldn't go big as this would be me trading against the general trend but I feel a small Long from say $5.85 up to $6.08 will happen, but of course you'd be wanting more than $6.08, so just be ultra cautious if you do play the Long in case it doesn't break out above the resistance of $6.08.

**LINK**

Another bear flag. Nice chart setup, I think I'd be waiting on a move down to the yellow box, fill some orders there and hopefully got a pop higher before a larger move down comes later. Yellow boxes work an absolute treat.

**RUNE**

If we can get RUNE in the yellow box, I would definitely take this for a short, term Long.

**FTM**

Again another chart that looks good for a short, term Long, I would prefer to get orders filled around the $0.37 to $0.38 mark for the short, term Long.

@everyone **Watchlist Update.** Morning all, I hope you're all well. The above #watchlist has been updated and there are some serious opportunities out there with some possible short

term Longs in play that may help us to get up to a relevant level that we can then Short down from. There's good value in each of the above setups so really read through each. As usual, ping me over whatever questions you might have.

Categories: Technicals

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