Now, a very strong bar has been printed in an attempt to break pass EMA50 (0.00006291) but this move is still taking form... Here is how it works!
- If GXSBTC can manage to close above EMA50, then it is likely to grow faster.
- But if instead, the prices move below this level you can expect some consolidation, even a retrace down to lower support before the next move up... You can see the details and potential scenarios drawn on the chart above.
This chart is since the is strong, the trending up and GXSBTC has been growing/consolidating since it hit a new all-time low.
You can expect to see this pair grow more and more in the weeks to come.
The red dashed line at the bottom is the main support. This level can be used as a stop-loss if you decide to trade.
(We use a manual stop-loss when trading altcoins/cryptocurrency).
Thanks a lot for reading.
THIS IS NOT FINANCIAL ADVICE.