Altcoins on Watch (longs and shorts)
LTC/USDT, 4h
Bullish
Adding TRX to the list
Congrats if you took the YFI trade. It followed the plan we were watching for almost exactly
The TRX setup has actually reached an aggressive entry point. Lots of volatility coming in, but if it holds the lower trendline this could be a great aggressive entry
Going to start this by saying that trade entries must be determined by also using the recent BTC post. We are only looking for these shorts if BTC breaks back below support.
Starting this off with a LTC setup as it can be seen as a long or short position. If BTC remains bullish, long the break higher on LTC. The alternative is shorting the rejection from this resistance level.
Next setup is AVAX. It has already started to move, so this one is a bit further along than the other setups shown.
YFI setup has a double confirmation. It needs to break the smaller timeframe downtrend as well as hold this support level. Alternatively, if both of these confirmations fail with a BTC bull trap, then this will be a good setup for shorts as well.
AAVE is just a short setup. If recent market structure changes and support is lost, this will be a great short.
VET setup still has a lot of room in the ascending triangle, so this pattern may be early but worth keeping on the radar
And last setup is OP. Watching for the breakout on OP for a long.
There will likely be more setups to add as things develop. Just wanted to get these out as setups I am watching.