Simple for the smooth brainers.
Showing key support around descending triangle with bullish divergence.
.618 retrace after third impulse wave.
Oversold
Momentum in bears favor, waiting for reversal.
1.618 target.
Showing key support around descending triangle with bullish divergence.
.618 retrace after third impulse wave.
Oversold
Momentum in bears favor, waiting for reversal.
1.618 target.
Trade active:
Update: Support is holding. Looking for a close at or above 1.35 on the daily candle. RSI seems to be switching direction from oversold. Next two-three days looking to break out of the descending triangle. Of course, stay vigilant on Bitcoin and traditional marrkets as they could invalidate the setup.
Trade closed: stop reached:
closed by china fud.