Counterparty has started to bounce off a horizontal supportline, that has been visited 4 times now on the daily candles. One could argue that this graph is also showing "the lately so often seen failed shoulder-head-shoulder" pattern that I was reffering to in my Zcash idea (www.tradingview.com/u/yuri72/), but I am not liking the shape of this one (especially the shape of the head).
The previous three support-touches (on the green horizontal line) resulted in a lower RSI reading (3 red ovals). But the latest touch has given us a higher RSI-reading (green line in RSI), so we have some bullish divergence. I expect the bounce to go towards 0.004 region, with maybe some hesitation around 0.0032 area (two red horizontal resistance areas).
The previous three support-touches (on the green horizontal line) resulted in a lower RSI reading (3 red ovals). But the latest touch has given us a higher RSI-reading (green line in RSI), so we have some bullish divergence. I expect the bounce to go towards 0.004 region, with maybe some hesitation around 0.0032 area (two red horizontal resistance areas).
Comment:
If we get a price closing below the green support this is a 'must close trade'. But for now not a problem yet. RSI is also back at the green line. So lets se if both (price and indicator) can curl up again from here!
Trade closed: stop reached:
We have a break of green support.. followed by (what looks to become) an inverted hammer candle.. time to close :(