As price was going down for few hours, seems like it wants to bounce back up.
Key resistance last hours was at 40.579 located right on the golden zone of the fib retracement tool.
We can see a bullish engulfing pattern on the 15m chart meaning the price might goes up.
Sctochastic RSI index shows that DOT was oversold which, once again indicates that the price should go up.
TP: 49.567 (0 of Fib Retracement)
SL: 39.508 (under resistance/support key level)
20% gain.
5 to 1 risk ratio.
Key resistance last hours was at 40.579 located right on the golden zone of the fib retracement tool.
We can see a bullish engulfing pattern on the 15m chart meaning the price might goes up.
Sctochastic RSI index shows that DOT was oversold which, once again indicates that the price should go up.
TP: 49.567 (0 of Fib Retracement)
SL: 39.508 (under resistance/support key level)
20% gain.
5 to 1 risk ratio.
Trade active:
The bulls have regained control of the market. We enter this trade as expected at the resistance level.
Trade closed: stop reached