(since my last uploaded idea doesn't seem to be on here, I'll try it again)
I just started charting recently, so this is just an idea I have and definitely no financial advice.
- close to what I think is the support trend line (green)
- oversold on RSI (20). Also seems to have touched the bottom trend line I drew on the RSI (meaning it is as low as it's gonna get?)
- on the 4h chart tested the previous low (horizontal red line) several times and didn't break that (possibile support?)
- might drop a bit more to lower (possible) support line (purple) and bounce there?
Are we bouncing from here or are we going to the 0.786 Fib?
Would love to get some feedback!
Trade closed manually:
So, I wasn't right. Price fell below my green support trend line and also below my 2 purple horizontal support lines.
At 2018/07/22 0:00 the mainnet swap (VEN to VET) is planned. (Vertical blue line)
If price action remains between the two black trend lines I drew just know, than price might fall about 6,5% lower to ca. 22.500 by that time.
But hey, I am just a beginner at this so don't take my word for it :)
So, I wasn't right. Price fell below my green support trend line and also below my 2 purple horizontal support lines.
At 2018/07/22 0:00 the mainnet swap (VEN to VET) is planned. (Vertical blue line)
If price action remains between the two black trend lines I drew just know, than price might fall about 6,5% lower to ca. 22.500 by that time.
But hey, I am just a beginner at this so don't take my word for it :)
Is this possibly a bullisch divergence on RSI (lower prices on chart, higer RSI)?
Leave a comment if you agree/disagree.
Thanx!