TradeCityPro | FLOWUSDT New Weekly Move?👋 Welcome to TradeCityPro Channel!
Let’s analyze the weekly crypto watchlist together during the final hours of the market holiday.
🌐 Overview Bitcoin
Before diving into today’s altcoin analysis, let’s take a quick look at Bitcoin. In the 1-hour timeframe, Bitcoin has broken its trendline but remains below the key resistance level of 98606, which it has been rejected from twice, highlighting its significance.
At the start of the new week, I anticipate a potential upward move, likely during the U.S. session. If Bitcoin breaks 98606, a long position can be opened. If Bitcoin dominance is breaking 57.08 simultaneously, long positions on Bitcoin itself are preferable. Otherwise, if dominance faces rejection or forms red candles, a quick switch to altcoins is recommended.
📊 Weekly Timeframe
In the weekly timeframe, this altcoin, like most of the crypto market, is still in its range box, continuing its oscillation within this boundary.
After breaking 0.674, FLOW attempted to reach the range’s upper boundary but faced rejection. Even RSI was rejected at 70, preventing FLOW from reaching the resistance at 1.460.
On the positive side, during this pullback, the volume of red candles decreased, and FLOW is now at a previous resistance-turned-support level, suggesting the potential for a rebound.
Keep in mind that the main support level is 0.463. If it breaks, exiting this coin would be wise. A re-entry can be considered upon a breakout above 1.460 with momentum confirmation.
📈 Daily Timeframe
In the daily timeframe, after a fake breakdown below the key support level of 0.509, FLOW bounced back strongly, initiating a move toward the resistance at 1.169.
If we use Fibonacci levels (ignoring fakeouts), the 0.7 level emerges as a key support. It acts as a previous resistance-turned-support and aligns with the significant 0.618 Fibonacci retracement level.
The 0.7 level has been tested twice, with the price bouncing each time. If FLOW breaks 0.809, it could start a move toward 0.969 and eventually 1.169.
For spot buying, wait for a breakout above 0.809, with: Risky Stop-Loss: 0.7 Conservative Stop-Loss: 0.509 For futures trading, consider a position after a breakout above 0.809.
The resistance level at 0.809 is crucial, offering a solid opportunity for both spot and futures trades.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
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