A new trading opportunity to buy in BTSUSDTechnical analysis:
. BITSHARES/DOLLAR 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 27.
. 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 (0.1210 to 0.0438). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.1210)
Ending of entry zone (0.0438)
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= @ 0.1855
TP2= @ 0.2379
TP3= @ 0.3170
TP4= @ 0.4536
TP5= @ 0.5638
TP6= @ 0.6736
TP7= @ 0.9800
TP8= Free
