Watchlist Update (Mar 20 2023)

CryptoExplorer Author

Posted On Mar 20, 2023 |

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

@here **BTC**

On an absolute tear up. However, we're approaching the $28,600 level which has proven to be a resistance on prior occasions, although this range extends up to $30,100. Volume has been very good but we've teared up quickly and just vertically, so you'd expect some kind of decent pullback or a rejection area. I think this is the $28,600 to $30,100 range. Also notice the RSI is very much in over, bought territory on the 12hr, 1D and the 3D timeframe with most creating bear divs. I want price to go slightly higher so I can fill some Shorts, in the $28,600, $30,100 range. I have placed big Short orders in this range, hoping they fill and I'll be willing to see how things play out on Wednesday and willing to wait until then to see orders fill. Expecting orders to fill on Powell coming out, raising rates by 25bps and then indicating a pause in rate rises.

**ETH**

Slightly more zoomed out chart and does look quite positive. The one concern I have again is the pace of the up move and the fact it just went up vertically. But, other than that we've managed to claim back above the horizontal resistance of $1,745 and it's cleared the red resistance box. When I look at BTC, I think if it gets some slight more upside then it's ripe for a Short if it isn't already ripe for one. ETH however, looks good for further upside. I would however in the short, term expect some consolidation, and if this can stay above the $1,745 resistance then this'll be positive.

**SOL**

Also looking somewhat positive in contrast to BTC. SOL was able to smash through the orange box and the red downtrend line, but there is now huge resistance between here and and $26.00. I think for now whilst we're still not close to being over, bought, I think it's worth noting that there may be some more upside potential in this play. I'll become interested for a Short at $26.00. Until then, just keeping tabs on it.

**MATIC**

Far less interesting than ETH and SOL in terms of going higher. Currently sat in no mans land between the support of $1.08 and the resistance of $1.21. Not too interested in this to be honest. Volume is ok and RSI is bang in the middle... not enough determining signs for a one, sided argument. Leaving this, will pick it up if more weighting is added to the bull or bear case, but not enough in either direction right now.

**DOT**

Another interesting play. Local uptrend in tact, although volume is dwindling and the orange box did see an initial rejection. I see that the horizontal resistance of the $6.60 level (give or take a few %) has held strong so far. If come Wednesday the market does move higher, this is one I'll be assessing to see if it can cross above it's orange box. If it struggles and the RSI can extend much more into over, bought territory, then I will likely look for Shorts and for price to break below the uptrend line.

**LINK**

Beginning to run into the orange box and there are a number of resistances above. However, the RSI is still in a middle territory and therefore the rejection/bear case is not too heavy here. Another I'll just sit on and watch until a scenario is more greatly defined/outlined. Not too interested for now, there are better plays elsewhere.

**RUNE**

Arrows are the plan of action and then a possible breakout of the red horizontal line and the downtrend line. Just sat tight and watching for now.

**FTM**

May thoughts are that this doesn't become interesting until it gets back to $0.59 and then that's where I may look for the Short, but for now, RSI is still in middle territory and volume is declining before price has reached the real considerable resistance level.

@everyone **Watchlist Update and Potential Trades.** So, guys I have updated the <#916654716249853952> section and now the above #watchlist, but what's the plan of action trade wise. As you know, I shorted into the late $25k's and got ripped up. Hey ho, Man City do lose some games.... but still win the league. I took the weekend off and now coming back to the computer this morning, the setup I am most liking is Shorting BTC if it can extend in to the red box on it's chart (check the above for breakdown). I am willing to wait for the Interest Rate decision and Press conference on Wednesday from Powell. I am hoping to fill the Shorts into this excitement on this day if Powell announces a pausing in rate hikes and then we move down after people realise that BTC is too over

bought here. That's the plan, keeping it tight for now and our main portfolio is now flying. THIS IS WHY WE DCA'ED FOR SO MANY MONTHS AT THE BACK END OF LAST YEAR.

The content in this stream/video/article/content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Always do your own research! Nothing contained in this video constitutes a solicitation, recommendation, endorsement, or offer by CryptoExplorer or any third-party service provider to buy or sell any digital assets or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.