Tornado_Trading

Bluzelle bottoming out. Divergence with missing right shoulder.

Long
BINANCE:BLZBTC   Bluzelle / Bitcoin
Target needs to be defined, but the Bluzelle daily chart shows we bottomed out and altough we traced lower prices, MACD-H and EFI traced much higher lows.
The MACD-H even did not show it's right shoulder and possibly this could change the direction upward for a long time.
As always, it also depends on futher BTC movements.

The previous resistance and support line could be a good point to take profit, but for me targets aren't fixed and
it depends on further developments to see if we get out or reenter a new trade after breaking resistance.


Price target 1576

Entry: 1180-1200

SL: 1033

R/R: 1:2.45

Comments

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