There is a big bullish divergence on a few time frames going all the way up to daily.
Yesterday candle is a kind of a reversal candle. It would have been way more convincing if it was a hammer and green.
That said we are oversold and due for a bounce. The Bitfinex shorts are near all time high at 42,000.
Buy on a break of the blue trend line or a break of the horizontal line on the RSI.
Stop at the lows of $3,200
Targets: $3,900, $4,100, $4400
Sell 1/3 of the position at each target.
Good Luck!!!
Yesterday candle is a kind of a reversal candle. It would have been way more convincing if it was a hammer and green.
That said we are oversold and due for a bounce. The Bitfinex shorts are near all time high at 42,000.
Buy on a break of the blue trend line or a break of the horizontal line on the RSI.
Stop at the lows of $3,200
Targets: $3,900, $4,100, $4400
Sell 1/3 of the position at each target.
Good Luck!!!
Comment:
First target hit today. Yay!
Comment:
Second target hit!