There is a possibility for the beginning of an uptrend in XMRBTCTechnical analysis:
. MONERO/BITCOIN is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.
. The RSI downtrend & The price downtrend in the daily chart are broken, so the probability of the resumption of an uptrend is increased.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0153 to 0.0141). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.0153)
Ending of entry zone (0.0141)
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.
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TP1= @ 0.0167
TP2= @ 0.0180
TP3= @ 0.0191
TP4= @ 0.0200
TP5= @ 0.0211
TP6= @ 0.0220
TP7= @ 0.0232
TP8= @ 0.0249
TP9= @ 0.0262
TP10= @ 0.0273
TP11= @ 0.0304
TP12= @ 0.0320
TP13= Free
