GXSUSDT (GXChain) : Trade Opportunity : Long position above 1,42
After having realized two successive significant rise trading session GXChain is offering a nice classic trading range picture allowing to set up a clear trading position in the dip in progress
here what is interesting to focus on is the dynamic/account of the wave pattern, as we are in the most probable sceanario in wave (II) or (B) - and maybe already in the structure to shape the (III) there is no major risk to see the price action going down to much. And regarding the wave (II) or (B), we are in corrective move so each movement/wave are shaping ZIGZAG movement which are all equivalent with each other (see double narrow blue) providing a nice buy level occurence between 1,93 an 1,87, we also find here the ratio at 61,8% (fibo) from the all upside swing started from 15/12 and the 76,4% from the bottom of 28/12. So it means 4 key fibo level in the area of 1,93/1,87 which is quiet strong.
So after having realized the Double ZIGZAG potential (Blue narrow) then the corrective structure will be ended ready to kick again to swing up towards 3,48 freelunch before 3,96 which is the perfect taking profit level
On the indicators MM are support around 1,93 and RSI moving average is evolving above 40 which is means that the market is still in bullish momentum accumulation
So here we are in the perfect bullish trad configuration with a nice R/R (stop 1,42 - daily close) to play 3,48 and 3,96 with entry level at 1,93
=> CMC200 index broke key support and BTC as ETH are showing to much risk to go down => GXS RSI moving average also is progressing now below 40 which raising the risk to revisit 1,72 to 1,48 before going up
I will re-enter lower once the bearish momentum is exhausted