Technical analysis: . Quantstamp/Bitcoin is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 49. . While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.
Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.00000520 to 0.00000390). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00000520) Ending of entry zone (0.00000390)
Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.00000660 TP2= @ 0.00000790 TP3= @ 0.00000965 TP4= @ 0.00001110 TP5= @ 0.00001320 TP6= @ 0.00001620 TP7= @ 0.00001900 TP8= @ 0.00002310 TP9= @ 0.00002830 TP10= @ 0.00003890 TP11= Free