Coin gives some signs of reversal in pair to BTC.

1D

Locally on the daily chart you can see almost formed head and shoulders pattern, but in simple terms, we have a consolidation, where the trading is now, the exit from which may give a point of entry. Since we have a local uptrend, the priority is to go long, at shorts the coin is also traded on some exchanges, but in pairs to the USDT.

12H


Potential entry point to go long when the price comes out of consolidation, when it breaks through the 4700 level and confirms support. Stop in that case short behind the breakdown bar, a more conservative stop under the consolidation. Shorting scenarios are not considered in this idea, because this is another story.


If you liked this article, please like it and subscribe, so as not to miss anything.

Always use STOP, and do not use a leverage higher than x3.
A trader must always have tomorrow.



Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.