THE BULLISH HIDDEN DIVERGENCE
The respected support level was held and will likely bounce back up to test previous resistance.
The bullish hidden divergence was spotted on the daily time frame, when price is forming a HIGHER-LOWS and the RSI is forming a LOWER-LOWS.
This indicates that price will test the previous near resistance and hold for a while.
The major level to take a trade is above the support levels .
VERDICT:
BUY: $3838
SELL:$3939
STOP LOSS:$3769
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
The respected support level was held and will likely bounce back up to test previous resistance.
The bullish hidden divergence was spotted on the daily time frame, when price is forming a HIGHER-LOWS and the RSI is forming a LOWER-LOWS.
This indicates that price will test the previous near resistance and hold for a while.
The major level to take a trade is above the support levels .
VERDICT:
BUY: $3838
SELL:$3939
STOP LOSS:$3769
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.