1H chart is showing Head & Shoulders pattern. This is considered as a trend reversal pattern. It's signal for that the market is going to move downwards. The confirmation that this signal is a valid one we will need to see a price break out below the neckline of the Head & Shoulders pattern. If the price breakouts we are able to see downward movement to 55 level. Remember before we reach H&S target level there are multiple support levels we have to pass through and because of that these support levels are able to give us new buy signals if reversal is confirmed.
Confirmation for further uptrend movement we will need to see a price breakout above 66 level and RSI is supporting this. Buy orders should set above this level.
Trading information:
Buy: above 66
Partial profit: around 78
Long term profit: 90
Stop-loss: 62
Note: this is risky trade and you should be looking for new buy opportunities from the lower points.
Be careful while trading!
Always be cautious of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!
I do appreciate constructive criticism and feedback!
Yarr!
Confirmation for further uptrend movement we will need to see a price breakout above 66 level and RSI is supporting this. Buy orders should set above this level.
Trading information:
Buy: above 66
Partial profit: around 78
Long term profit: 90
Stop-loss: 62
Note: this is risky trade and you should be looking for new buy opportunities from the lower points.
Be careful while trading!
Always be cautious of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!
I do appreciate constructive criticism and feedback!
Yarr!
Trade active:
59 support hit. Time to search new buy opportunities
Comment:
H&S target hit
Trade closed: target reached:
H&S target hit 100%
