[VRC/BTC] Watch List:Crucial Level - Possible Strong Up Movement
We have several factors pointing up, 1-month-old support, Fibonacci's retracement, uptrend, but on the other hand, we have the 50 EMA working as a resistance and the stochastics show that we are far from oversold.
I will definitely observe how it will behave from here, if it crosses the EMA it's a very good sign and also if the stochastics go down holding the price levels that's a good sign too.
Since it's a huge risk:reward situation considering the potential Fibonacci levels, I will keep my eyes on it.
If it show's a movement up and you buy in, use the ATR to adjust your stop-loss as you go since it might be a long up trend(3 days +)
I will definitely observe how it will behave from here, if it crosses the EMA it's a very good sign and also if the stochastics go down holding the price levels that's a good sign too.
Since it's a huge risk:reward situation considering the potential Fibonacci levels, I will keep my eyes on it.
If it show's a movement up and you buy in, use the ATR to adjust your stop-loss as you go since it might be a long up trend(3 days +)
Comment:
As the behavior follows as expected, you can use the lines of the Fibonacci's retracement as sell targets.
Comment:
Perfect trade with an astonishing +64% profit.