While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5360 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is...
After a very strong bullish run from the Swiss over the past few days, I am looking for a retracement to the 1.000 area. We have breached 2018 highs, and a retracement would be very healthy.
I am targeting the 1.00 region for multiple reasons:
- Key support/resistance price area
-Looking at the fib retracement - this correlates with the 61.8% fib retracement...
Looking at this chart on the 4 hour or 1 hour you would think of going short but PRICE ACTION IS KEY!
If you look at the bigger picture a bullish hammer has formed on the weekly and daily. This tells me that the bulls are in this market and ready to push this pair up higher. A pullback is possible but not lower than last weeks lows. Another factor for me being...
Simple enough, bounce off our support and bullish run up to our resistance.
Are you starting to see how simple it is? I'm not saying 100% of our trades win because that would be a lie and we pride ourselves on transparency, but 80% of our trades are successful just from trading price action... Take a look at our charts on here if you don't believe us.
I really need to spend more time before publishing....
Here's is my updated chart after tidying it up, adding a few bits and also a tongue in cheek look ahead to $1,000,000 :)
Bitcoin 4 year cycle, self explanatory chart.
. NANO/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 57.
. There is a possibility of temporary retracement to suggested support zone (0.0002900 to 0.0002240). if so, traders can set orders based on Price Action...