A trading opportunity to buy in BCNXMRTechnical analysis:
. BYTECOIN/MONERO 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 52.
. The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0000182 to 0.0000154). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0000182)
Ending of entry zone (0.0000154)
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= @ 0.0000223
TP2= @ 0.0000263
TP3= @ 0.0000292
TP4= @ 0.0000343
TP5= @ 0.0000445
TP6= @ 0.0000612
TP7= @ 0.0000736
TP8= Free
