There are several key things to note from the chart of FCT/BTC:
- Recently in a downtrend and moving in a descending channel. It has tested the bottom of the channel at least twice already and now the price is lingering around the top of the channel. We can wait for breakout of this channel upwards to place the buys at the ideal conditions.
- The MACD shows that the bears are losing strength and we might witness a reversal to a bullish market soon, as the MACD are about to cross upwards and go to positive.
- The ADX is still in quite a positive value; and we can see how the DI (+) is creeping up on the DI (-), with a possible cross of both DIs in the upcoming days.
We can set the following trade:
Buy above 0.00365
Target short-term @ 0.00431
Target mid-term @ 0.0056
Sop Loss @ 0.0025
Please follow on our Telegram t.me/cryptowhaletrading and feel welcome to leave feedback or constructive criticism on my analysis!
- Recently in a downtrend and moving in a descending channel. It has tested the bottom of the channel at least twice already and now the price is lingering around the top of the channel. We can wait for breakout of this channel upwards to place the buys at the ideal conditions.
- The MACD shows that the bears are losing strength and we might witness a reversal to a bullish market soon, as the MACD are about to cross upwards and go to positive.
- The ADX is still in quite a positive value; and we can see how the DI (+) is creeping up on the DI (-), with a possible cross of both DIs in the upcoming days.
We can set the following trade:
Buy above 0.00365
Target short-term @ 0.00431
Target mid-term @ 0.0056
Sop Loss @ 0.0025
Please follow on our Telegram t.me/cryptowhaletrading and feel welcome to leave feedback or constructive criticism on my analysis!