Watchlist Update (Mar 15 2023)

CryptoExplorer Author

Posted On Mar 15, 2023 |

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

**BTC**

So, yesterday was a bit of a manic day for me trading BTC. I have been doing well on trades recently, but on Bitmex yesterday my Stop Loss on the BTC trade was $26,700 was hit, yet on charts it shows a top wick of $26,570 🤬. So, I literally got flushed out at the worst possible point, fuming and would now be in really decent profits, but this is how trading goes. I am hoping/thinking most of you guys wouldn't have been flushed out from the wick yesterday so you should be all ok for the trade and still in profits. But breaking it down, the last few days has seen real significant volumes, so this is positive for further upside price action. I think we're probably due a slight pullback, but then I think further upside is possible. I think $28k for BTC is potentially on the cards, but I still think a more major pullback can happen after this. Right now though I am sat on the sides and not looking to jump in. If we rest to early $23k's I may play a small Long so that I can get some of the upside if we do go higher.

**ETH**

Has moved into a resistance area where a lot of prior sells have happened, I'd expect a pullback here to be honest. I'd be looking at the $1,560 to $1,590 range for a potential pullback.

**SOL**

I think is quite interesting here. I'd be interested to see how price is behaving if we can bounce back up to the orange box. It's possible I may look for the Short into this area if we get there and the major cap coins are struggling then I'll possibly take the SOL Short.

**MATIC**

The more I am going through coins, the more I am seeing a contrast. It looks to me that some are in an area of struggle where as some others look ripe to push significantly higher. Currently, MATIC is struggling at the $1.21 horizontal resistance, so in order for me to become bullish on this I'd need to see it flip this level into support rather than be suppressed by it. For now not too interested in MATIC. If I was confident on a major pullback in BTC and ETH, then MATIC might be one of the one's I'd look to Short, but right now, I'll leave it be whilst I let BTC and ETH figure out what they're doing, I do expect short, term pullbacks though.

**DOT**

Almost the opposite to MATIC. We see DOT is well above it's main horizontal resistance and now using this $6.08 level as the horizontal support. I'd expect a movement up to the orange box and then probably a rejection from there.

**RUNE**

The range is $1.37 to $1.50. I would want to see a breakout of this range to become interested.

@everyone **Watchlist and Mini Market Update.** Good morning all. Above #watchlist has been completed. And for a breakdown on yesterday's trade check out the BTC update above. I think you guys should be good but personally I got stopped out in a dirty wick higher on Bitmex, but I am not going to rant again haha. So, breaking this down. The overall volume is really positive, meaning a sustained move higher is definitely possible. However, I wouldn't really want to be sat in Longs here, portfolio spot buys, yeh thats fine, but leverage Longs wouldn't interest me here. However, I also wouldn't want to be Short even though I think we can have a pullback to the $23k area for BTC. Ultimately, I am not too confident on either direction here in the short

term to be honest, not one side screams out to me as being more heavily weighted/favoured, so for now I will just sit tight and wait again for another trade opportunity. Tonight, I will do a Stream at 5:15PM UK time. See you guys there for a catch up and hopefully today we get some price action that makes things more clear for us.

Categories: Technicals

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