Short term bullish on rounded retest

The entry was first resistance, then flipped to support and now I expect it to hold on the rounded retest. I'll keep a short stop loss though.

Note

The daily close and some intraday timeframes reacted a bit on the rounded retest of the support.
A main thing is in my opinion that the support is the resistance of the previous consolidation.

Note

The 9 EMA provided a good resistance since July with two exceptions showing a solid downtrend. The same with the RSI which was always way below 50 since July which signals a downtrend to me. See:

But there is room until the 9 EMA and for a short term uptrend of the RSI that should be well enough for a good raise of the stop loss into the profit zone.

Note

The alts seem to generally consolidating currently. With a bit of a bearish bias based on the RSI being below 50 for almost a month.

Note

I still looks like there is room for a short term relieve as the price is in the lower part of the consolidation.

Note

Got stopped out. But was worth a try.

Trade closed: stop reached

AlCryptorino

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AlCryptorino