Could see a bounce now
- Just broke out of lower BB band
- Sitting on the lower trend line
- RSI oversold on 1D
We could see a bounce right now on the lower trend line, it is possible if a turn around happens that we could see 80k this time around and with a stop loss not far below the entry right on this trendline just below the accumulation zone our risk reward ratio for this trade is fantastic. Would wait for more confirmation before I longed here possibly waiting for the RSI to cross back over, but all in all it is looking like a nice place to start accumulating some long positions assuming we do not break 40k on the down side, If we do break the 40k on the down side we could head as low as 30kish.... :(
- Sitting on the lower trend line
- RSI oversold on 1D
We could see a bounce right now on the lower trend line, it is possible if a turn around happens that we could see 80k this time around and with a stop loss not far below the entry right on this trendline just below the accumulation zone our risk reward ratio for this trade is fantastic. Would wait for more confirmation before I longed here possibly waiting for the RSI to cross back over, but all in all it is looking like a nice place to start accumulating some long positions assuming we do not break 40k on the down side, If we do break the 40k on the down side we could head as low as 30kish.... :(
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.