CRYPTO: Reef Buy Bias Setup
Hello hivers HOW are you doing welcome to another analysis session with me today we gonna be looking at crypto coin that I think that might do pretty good soon.
We gonna be looking at reef chart.
What Is Reef?
Reef is defi base token that can be used by developers to develop their NFT, gaming projects on the blockchain with less stress or less fee unlike eth network. So Reef is cheaper than eth network which make it cool more developers would prefer to transact here because of how conducive it is.
REEF TECHNICAL ANALYSIS
we gonna be looking at the reef price action aspect where we think the Price might run to soon base on price action movement.
Reef Monthly Chart 📈 📈
On the monthly point of View we could see that the trend is bearish but base on the current price action behavior I could sense a trend switch sign if you look at the few candle close for previous months you will notice they all closed in bullish that's a number one sign. Let's go to daily timeframe to see the structure game of liquidity.
Daily timeframe 📈 📈
The daily structure is bullish because I can see the high highs being swept out that's to show that we are going for higher liquidity hunting then on the current candle it is resting on the fair value gaps that is like a point of interest for us we expect the price to tap in that zone and reject that's spike up and continue the sweeping of HIGER liquidity.
We need to keep our eyes on the current chart price of btc to determine if is time to push up because ideally btc price does affect the price of Reef when paired with usdt.
The buy opportunity will start printing from this week when we see a reaction probably a rejection candles on the daily FVG that will be a buy setup for me to rally up to the monthly Price of 0.039339 That should be the overall target at the moment.
Note: this is not a financial advice always do your proper research before investing on any of my analysis I'm just making this analysis for study case only thank you.
Thank you for reading my post.
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta