SYSBTC descending wedge bounce
Updated
The market has a good potential to touch the upper edge of the falling wedge. After breaking out of the triangle further growth is expected. The price will touch the first target then it will roll back a little and will go up again.
The price touched Fib 0.786 support level and is ready to bounce, indicators confirm it. Moreover the price is at the lower edge of the triangle and BB channel, if the price maintain this level there should be upward movement to the upper edge.
If the price goes below our STOP LOSS mention in the signal (the daylight candle will be closed below this level), we recommend to close the position and open it again with the same amount once it consolidates (we will inform you about it). However probability of the negative scenario is low
The price touched Fib 0.786 support level and is ready to bounce, indicators confirm it. Moreover the price is at the lower edge of the triangle and BB channel, if the price maintain this level there should be upward movement to the upper edge.
If the price goes below our STOP LOSS mention in the signal (the daylight candle will be closed below this level), we recommend to close the position and open it again with the same amount once it consolidates (we will inform you about it). However probability of the negative scenario is low
Comment
The price consolidated and bounces from the lower edge as we forecastedTrade active
Using swing trade strategy by targets we covered 2 growth waves. We recommend to fix some profit and wait for consolidation. The price reached 2nd target and is very close to the 3rdProfit: 31.6%
Duration: 2 days
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