Just an idea of what a normal correction would look like, looking at the previous trendline and support/resistance areas. What do you guys think?
If the support holds, we could be seeing another leg up since weekly resistance was broken not long ago.
This rise in price looks a lot the the one we have seen before and as they say "the market repeats itself". A nice buy zone would be 10150-10450, then a correction to the upside is likely to appear. Stop/loss could be 9800. For any tips on how to improve my charts please let me know. I am not a financial advisor.
Strong support is getting touched and a nice risk/reward trade is possible here. Let me know if you've got feedback! Always eager to learn! Thank you.
A clear Head and Shoulders is forming, causing a great LONG oppertunity. The strong support and resistence are very clear as well and could be used as stop/loss indicators. Let me know if you've got feedback! Always eager to learn! Thank you.
There is another ascending triangle forming at ZEN/BTC so its a safe bet at this price level. Let me know if you've got feedback! Always eager to learn! Thank you.
Reasons for a long at this position: - Hasn't gone up as usual looking at the previous oversold RSI moments - Favorable wave trend - Currently at a support level that has held multiple times - Has broken the resistance triangle it was - Bullish divergence Let me know if you've got feedback! Always eager to learn! Thank you.
Reasons for a long at this position: - Possible HEAD&SHOULDERS - Favorable RSI trend + RSI <50 - At a key price level that has returned to be support after breaking resistance Let me know if you've got feedback! Always eager to learn! Thank you.
Reasons why MCO/BTC could go up: - RSI oversold - Every time the RSI was oversold there was a minimum 10% bounce to the upside so it will likely happen again - The price is on a key support area so there is a good risk/reward ratio because stop-loss can be set just under the support level Let me know your feedback! thank you.
BTG/BTC is at a very good entry point for a LONG position. Reasons why: - Key support level - Bullish divergence (RSI) - Has been oversold for some time now so it is very possible that a bounce might occur. Let me know your feedback! thank you.