Excuse me for posting it kind of late. So after a long downtred you see that the trend is moving sideways. Normally I would say that the trend will go down afterwards, but this time we see something different.
Now we see that the last candlestick (12:00) ended up in a hammer, with high volume. Also you see that this is our second test of the uptrend and our first test of the support line. So my conclusion is that Loopring (LRC) is likely to go up.
So my stop loss would be the support line or a close below the uptrend
My first target will be at 5867 and my second target would be at 6590, of course anything can happen meanwhile
ALWAYS keep in mind! That this is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!
Now we see that the last candlestick (12:00) ended up in a hammer, with high volume. Also you see that this is our second test of the uptrend and our first test of the support line. So my conclusion is that Loopring (LRC) is likely to go up.
So my stop loss would be the support line or a close below the uptrend
My first target will be at 5867 and my second target would be at 6590, of course anything can happen meanwhile
ALWAYS keep in mind! That this is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!