Description
⋅ We are going to be looking at only two signals for the UKGBTC (UnikoinGold) chart.
The first one is the highlighted candle in yellow.
This candle shows the absorption of resistance with its long wick.
Prices moved back down to close below EMA50, yes, but the candle still closed GREEN and above EMA10.
Together with this candle, we have high-volume which as a signal can be used as confirmation for the previous move.
- We remain strongly bullish on this pair above the rising orange trendline.
- We switch to bearish or neutral if prices break below "support".
Thanks for visiting once more.
Namaste.