BANDUSDT: Long Update(22.12.2020)
An upward impulse formed on D1, which tested the $ 8 level. RSI , like price, forms a triangle-shaped pattern.
On H4, the boundaries of the triangle pattern are clearly visible and the price is likely to break through the upper border, which can lead to a rise in the price to the $ 10 level. Besides, the price has corrected to 50% by Fibonacci level on H4 and now can grow up to 50% by Fibonacci level on D1.
We recommend buying in order to keep the position above $ 10 and set a stop loss at $ 5.8.
On H4, the boundaries of the triangle pattern are clearly visible and the price is likely to break through the upper border, which can lead to a rise in the price to the $ 10 level. Besides, the price has corrected to 50% by Fibonacci level on H4 and now can grow up to 50% by Fibonacci level on D1.
We recommend buying in order to keep the position above $ 10 and set a stop loss at $ 5.8.
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