$CRV
Tough local consolidation here.
Price action is telling me there is a high likelihood of us tagging the daily imbalance before higher as we've put in a SFP into an old high from January, as well as the initial consolidation high itself.
However, we are bouncing off Daily RSI 70 as well as holding above H4 50 RSI - which is what you want to see for continuation.
As I am positioned from 0.49 in spot, I'm not too worried as I still believe below $1.3 is within a higher timeframe accumulation range.
If we do tag the daily imbalance, I would see it as an opportunity for:
- Adding to spot position
- Opening fresh long positions
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$CRV
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