Nano/BTC - Long setup minimal risk
Hi!
Nano shows us some good trading opportunities.
While Bitcoin is piling to the next highs. The altcoins seem to be looking for a good breather, on the daily chart, analyzing the RSI indicator it is possible to notice that the Nano made a low while the RSI indicates a bullish divergence.
Based on this information, a reversal can be considered. In the 4hrs chart, we can see the resistance of the Downtrend Lines in red, the first being supported by a large accumulation in rectangle. If Elliot waves are legitimate as shown in the chart, a possible test on the second Downtrend Line may be possible, with a target measured at 0.0001371.
Every trade requires stop loss, my stop is indicated on the chart for this trade.
Nano shows us some good trading opportunities.
While Bitcoin is piling to the next highs. The altcoins seem to be looking for a good breather, on the daily chart, analyzing the RSI indicator it is possible to notice that the Nano made a low while the RSI indicates a bullish divergence.
Based on this information, a reversal can be considered. In the 4hrs chart, we can see the resistance of the Downtrend Lines in red, the first being supported by a large accumulation in rectangle. If Elliot waves are legitimate as shown in the chart, a possible test on the second Downtrend Line may be possible, with a target measured at 0.0001371.
Every trade requires stop loss, my stop is indicated on the chart for this trade.
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