LBCBTC Re-enter as the pair is holding above support
Visible GAP from beginning of November has established strong resistance which hold the price below this level for the past 4 months. Chart shows two rejections on 4H and Daily interval with nice double top formation with accompany of doji candles. Pair has stopped depreciation around strong psychological level 0.0000100000 between mid of February to mid of March which results in trend reversal with sharp movement towards north. GAP support is tested on Daily chart for time being. There are also two more important signals which 50% retracement plus round number 0.000040000 which is slightly below GAP.
...I closed position just in case this pair would go down further.
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Additional information :
Losses stopped at the support created by bodies of candlesticks from January and big bullish candle from 28th of March. Sometimes body of the candle is creating support in other words big bullish candle make support at the opening. See the other bullish candle and how pair react when it met level close to the bottom of this candle. I seems like that there is still potential for nice run towards 200 Ema or 1K level.
...I closed position just in case this pair would go down further.
__________________________________________________________________________________________
Additional information :
Losses stopped at the support created by bodies of candlesticks from January and big bullish candle from 28th of March. Sometimes body of the candle is creating support in other words big bullish candle make support at the opening. See the other bullish candle and how pair react when it met level close to the bottom of this candle. I seems like that there is still potential for nice run towards 200 Ema or 1K level.
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