Here a set up I will probably be trading on the 4 hours chart. A upward channel has taken place for the past 7 days and we do see what could be a bounce to reach the upper limit in the near future.
I can see a bullish RS divergence and the macd almost crossing over on the 4 hours chart which I believe shows that a reversal might take place. Although the volume is not showing the wanted strength yet, there is a bullish engulfing candlestick on the lower limit of the channel only after 1h30. I will enter the trade once i get the confirmation that the reversal is taking place - MACD cross-over/ 55ema cross-over with strong volume. target price around 0.0016 BTC
I can see a bullish RS divergence and the macd almost crossing over on the 4 hours chart which I believe shows that a reversal might take place. Although the volume is not showing the wanted strength yet, there is a bullish engulfing candlestick on the lower limit of the channel only after 1h30. I will enter the trade once i get the confirmation that the reversal is taking place - MACD cross-over/ 55ema cross-over with strong volume. target price around 0.0016 BTC
Comment:
past month* not 7 days :)
