Altsignals

SXP - Bounce?? πŸ€”

BINANCE:SXPUSDT   SXP / TetherUS
SXP has recently bounced off the triple bottom as indicated on the chart.
Ideally we'd want a strong daily bullish engulfing candle to indicate a full reversal - which we didn't. This is why it's important to be cautious when entering longs from here. The best place to enter would be the 0.60 area where we have a strong level where price started its bull run.

IF we do get back down to 0.60, enter with stops below that level.

For now, we can look for bull flags on lower timeframe to take SXP back to the wedge resistance.

Goodluck!

πŸ₯ƒCrypto Signals Since 2017 πŸ₯ƒ

πŸ’ŽTelegram https://t.me/AltSignals πŸ’Ž

πŸ“ˆ Signals/Algos https://altsignals.io/join πŸ“ˆ
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.