The market had a nice bounce from support zone and 0.786 fib level. Bullish divergence did play very nicely but the question is that will it keep pushing higher? For now this area is very attractive for selling and when combined with overbought stochastic, it's like to have minor retrace before continue pushing upwards. Bullish divergence confirms that the reversal is in the place and that when it did hit the reversal zone that tells to us that there are huge demand for it at this area.
Keeping it short for this time.
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Things to Remember:
Stop-loss orders are strongly recommended.
Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
Do your homework before investing.
DISCLAIMER: Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
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The Daily chart is showing a beautiful bullish engulfing candlestick pattern
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Sorry guys I forgot the change timeframe information so it might be misleading, it's still daily eventho it says 4h
And we have another catalyst:
coinmarketcal.com/event/iele-vm-testnet-12067 31 July 2018 (or earlier)
IELE VM Testnet
IELE VM, a register-based machine inspired by LLVM, will be released on testnet between June and July.
coinmarketcal.com/event/iele-vm-testnet-12067
31 July 2018 (or earlier)
IELE VM Testnet
IELE VM, a register-based machine inspired by LLVM, will be released on testnet between June and July.