Now the 1st support zone holds the market and it can be a starting point for a new upward movement. We can spot a double bottom chart pattern which gives us a possible trend reversal signal. This pattern will be realized as a reversal one when the market moves above the previous swing high. If the price breaks the downtrend line and rises above 15000.00 level, we’ll get confirmed trend reversal signal and a new buy opportunity. RSI confirms price reversal from the 1st support zone. MACD supports the upward movement and DMI allows opening long trades. Entry level is 15100.00 with stop below the local swing low at 11500.00 level. Profit targets are 20000.00 and 25000.00 levels. The part of trade can be left for long run. Alternative variant, if the price bounces from the downtrend line, probably we’ll see further downward movement to the 2nd support zone. This zone looks more solid and it’s better for opening long positions. If you don’t use leverage, trading volume for this trade is up to 20% from your deposit.
Market: BTCUSDT
Buy: 15100.00Stop: 11500.00
Profit Targets: 20000.00 and 25000.00
Market: BTCUSDT
Buy: 15100.00Stop: 11500.00
Profit Targets: 20000.00 and 25000.00
The trading signal is based on Poloniex chart.
Disclaimer: The analyst are some invested in Bitcoin.
Disclaimer: The analyst are some invested in Bitcoin.
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