The market got rejected by EMA26 and moved lower. Now the price is back in the support zone and it's testing the former resistance line of pattern from above.
As you may see on the chart that the market is trying to hold on the higher low formation. Higher low formations are the very first signals of the beginning of an uptrend and that's why it's important for bulls to defend it.
This is very attractive zone to open with a smaller position and then to increase position when there are more confirmed signals of an uptrend.
Why is this attractive zone?
There are coming plenty of good news that is going to have huge impact on the cryptocurrencies and their prices. Such like ETF approval is huge deal that could bring alot of new money in to the market. It's also to know on which phase we are on the current market cycle and this is the phase where upward potential is getting very attractive while downward potential is getting more minimal and unlikely.
Some of the signals to watch for when the market starts showing strength to upwards:
-> EMA12 crosses above of EMA26
-> Volume starts increasing
-> Bullish candlestick patterns
-> The price breaks above of EMA12 and holds it
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you!
Things to Remember:
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.
Yarr
As you may see on the chart that the market is trying to hold on the higher low formation. Higher low formations are the very first signals of the beginning of an uptrend and that's why it's important for bulls to defend it.
This is very attractive zone to open with a smaller position and then to increase position when there are more confirmed signals of an uptrend.
Why is this attractive zone?
There are coming plenty of good news that is going to have huge impact on the cryptocurrencies and their prices. Such like ETF approval is huge deal that could bring alot of new money in to the market. It's also to know on which phase we are on the current market cycle and this is the phase where upward potential is getting very attractive while downward potential is getting more minimal and unlikely.
Some of the signals to watch for when the market starts showing strength to upwards:
-> EMA12 crosses above of EMA26
-> Volume starts increasing
-> Bullish candlestick patterns
-> The price breaks above of EMA12 and holds it
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you!
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 this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.
Yarr
