Watchlist Update (Mar 13 2023)

CryptoExplorer Author

Posted On Mar 13, 2023 |

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

@here **BTC**

So, a huge move higher from the yellow boxes and the main horizontal support of $19,600. Once BTC reached sub 15 levels on the 12hr RSI, and it had moved into the horizontal support, the odds of a bounce were greater. Now we've seen a move into the downtrend line but we could not sustain above this level and we rejected at the border of the orange box (which was re, calculated after we made the low of $19,600. From here I think its very much 'no mans land'. I can see us retesting higher to $22,700, but I also think a test down to the local support of $21,300 is possible. In this kind of no mans land range, its better to be out of trades and wait for the next setup. My next point of interest will be seeing which area we hit first ($22,700 or $21,300) and then assessing if I want to play a bounce or a Short.

**ETH**

Deflationary aspects really show now in my opinion. Never seems to bleed as hard and always shoots up higher. Great bounce from the top of the yellow box. Now testing the underside of the yellow uptrend line. Again, ETH looks here like its in a 'no mans land'. The RSI has bounced considerably and in order for it to become over, bought, we'll likely need much more upside. If we get this then I may look to Short into the early $1,700's but I will first assess the situation macro wise upon getting to this price point. I also want to see how ETH behaves in the meantime. Most definitely not ruling out a pullback to $1,480 levels either, again 'no mans land' territory, hence I have exited my trades.

**SOL**

Just an absolutely perfect play. Bought in the yellow box and sold into the horizontal resistance of $20.40. Here, we're also in 'no mans land' again, hence I exited this SOL Long late last night (updated in <#916669618372898856>). Here we want to just let SOL find it's way and see where it settles. If we are to retest lower and form a bull div, I may look for a re, entry of a Long.

**MATIC**

To be honest, I'm pleased I didn't trade this one as got it completely wrong. I would have thought that the yellow box and the horizontal support of $1.01 would have acted as major support but price broke through quite cleanly. We're now seeing a nice bounce and breakout of the downtrend line. My thoughts and feelings here are that a retest of $1.05 is on the cards. If we get this and hold I may look for a small Long from there to push back up to $1.21. Ultra risky play though so take this into consideration.

**DOT**

Green liquidity zone for a buy played out nicely. We've found some short, term local resistance at $6.08, now we ideally need $5.72 to hold to see more upside. Not hugely confident on this and not really looking to get involved.

**LINK**

Same as usual, scary chart and moves crazily. Nice find of support on $5.85 and bounced back but found some resistance in the $6.50's. I am not interested here unless we come back to retest the $6.10, $6.20 range. Sitting on the fence waiting until then.

**RUNE**

Still looking weak, again I think a retest of the $1.20 level is on the cards. Not holding out too much hope for this currently.

@everyone **Watchlist Complete.** Afternoon guys, so the above #watchlist is completed. We can see that a lot of the major coins are in 'no mans land' kind of territories which is why I have exited trades. For now I will sit tight and wait for more over

sold or over, bought positions to take a trade opportunity but for now I'll let it find it's range. Great trades over the weekend, but now odds don't really favour any particular direction so I am going to sit tight and wait for a new range to become identified before trading. Lastly, <#916654716249853952> coming later this afternoon breaking down more of SVB and the FED's actions.

Categories: Technicals

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