There is a possibility for the beginning of an uptrend in MTHBTCTechnical analysis:
. Monetha/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 45.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
. The RSI downtrend 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 (0.00000280 to 0.00000212). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00000280)
Ending of entry zone (0.00000212)
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 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= @ 0.00000380
TP2= @ 0.00000450
TP3= @ 0.00000544
TP4= @ 0.00000720
TP5= @ 0.00001106
TP6= @ 0.00001660
TP7= @ 0.00002100
TP8= Free
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