Watchlist Update (Feb 27 2023)

CryptoExplorer Author

Posted On Feb 27, 2023 |

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

@here **BTC**

Well, I've called this spot on so far, perfectly following the arrows (go to last week's Stream for explanation and arrows being drawn). My feeling is still that we're in a significant risk off period and I think BTC is due for far more downside. A move into the Orange box area and I'll be considering some small Short positions.

**ETH**

Managed to hold and bounce from the yellow uptrend/support line and now attempting to move towards the local orange box. Here, I'll just be watching what happens, again I don't eye ETH for the Short, I am more eyeing BTC, but ETH's behaviour at the local orange box level is sure to give us some info about current strength in the market. My feeling is we move into the orange box, maybe slightly higher, and we reject from there. I think upside above $1,720 is extremely limited. Not interested for now, focus is elsewhere.

**SOL**

Somewhat in 'no mans land' here, if we got a move higher into the orange box and the downtrend line, I may look for Shorts but am aware SOL has broken this pattern before and therefore I wouldn't play big, small position sizing if I were to take the Short. Again watching BTC and ETH's price action around these key levels will also give me a greater indication as to whether or not this is a trade I wish to take. Sitting tight and watching for now, as said, waiting on BTC.

**MATIC**

Looking interesting to be honest. A nice move down lower which has reset some RSI's. We're now seeing the horizontal support of $1.21 holding for now and if we close a low we will also get a bull div. If I were bullish on the overall market, this is the Long trade I would be taking.

**LINK**

Having rejected from the resistance area, I would now be expecting the move down to continue in the majority. The first major level I'd look for would be the yellow box.

**RUNE**

Called these arrows absolutely spot on. Perfect touch into the yellow box and a nice move out so far. I do think in the mid, term, the $1.42 level is on the cards.

**RUNE**

Really clean downtrend, again another destined for the yellow box, I wouldn't want to be caught in a Long at any other point.

Categories: Technicals

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