This is a 4h chart, with fib retracement set at the ATH and the 2980 low (I find this levels stronger than the ones using the 5400 low). This chart tells me that the price is going to test the 0.786 level at 6600, as well as the bottom of the downtrend channel. If this market finds support there, we can expect an upwards move to retest the most recent resistance...
This currency is attempting to break the downtrend(orange line), forming a Bullish Flag(in red) through it. The price is getting out of space to move between the flag(red dotted paralel channel) and the recent uptrend(green line). If there is a breakout of the flag and the resistances ahead, it could lead the price to the Bull Flag Tarjet area around $2 and $2.2....
Will be updating with more info in a few hours, but the charts speaks pretty much for itself.
First of all let me say I'm not a trader yet, I'm an investor in some cryptocurrencies since July of this year. The purpose of this chart is to know what you experienced traders think about my trade idea, if you have the amiability to give me your thoughts. The idea is to entry at $1325 and take profit at $1800, with a stop loss at $1200. Most of my analysis is...