ForecastCity
Long

There is a possibility for the beginning of an uptrend in XMRBTC

POLONIEX:XMRBTC   Monero / Bitcoin
Technical analysis:
. MONERO/BITCOIN is in a downtrend 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 37.
. 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 (0.0157 to 0.0147). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.0157)
Ending of entry zone (0.0147)

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= @ 0.0180
TP2= @ 0.0191
TP3= @ 0.0200
TP4= @ 0.0211
TP5= @ 0.0220
TP6= @ 0.0232
TP7= @ 0.0249
TP8= @ 0.0262
TP9= @ 0.0273
TP10= @ 0.0304
TP11= @ 0.0320
TP12= Free
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