On the D chart SNM just hit his strongest support line, it corresponds exactly to 0.786 fib point of retracement.
RSI is clearly oversold and just bounced from the channel support.
The confirmation of trend inversion would be the break of both price and rsi channels resistances.
I put targets at 0.000052 (250%) (that is also the previous resistance and 1 fib point) and 0.000075.
It's not easy to predict a bullish inversion during a bearish market and these day Btc is unpredictable, but chart and rsi look very nice to me.
To be on the safe side you can enter only if it breaks both price and rsi channels resistances.
RSI is clearly oversold and just bounced from the channel support.
The confirmation of trend inversion would be the break of both price and rsi channels resistances.
I put targets at 0.000052 (250%) (that is also the previous resistance and 1 fib point) and 0.000075.
It's not easy to predict a bullish inversion during a bearish market and these day Btc is unpredictable, but chart and rsi look very nice to me.
To be on the safe side you can enter only if it breaks both price and rsi channels resistances.
Comment:
Mispell sorry. SONM not SNM of course
Trade active:
We are still around 0.00001614 support, so there is still a chance that it will bounce back up, but price and RSI resistances has NOT been broken, probably next support is at 0.0000113 (22 RSI).
We are still around 0.00001614 support, so there is still a chance that it will bounce back up, but price and RSI resistances has NOT been broken, probably next support is at 0.0000113 (22 RSI).
Trade closed: target reached:
First target almost reached ( 239% profit ! )
We are now at 0.5 retracement, we can easily reach 0.618fib ( 0.000028) before next bull run
First target almost reached ( 239% profit ! )
We are now at 0.5 retracement, we can easily reach 0.618fib ( 0.000028) before next bull run