There is a trading opportunity to buy in MONABTCTechnical analysis:
. MONACOIN/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 52.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00017600 to 0.00014000). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.00017600)
Ending of entry zone (0.00014000)
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.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.00021870
TP2= @ 0.00025680
TP3= @ 0.00030700
TP4= @ 0.00034550
TP5= @ 0.00041500
TP6= @ 0.00050240
TP7= @ 0.00063110
TP8= @ 0.00070000
TP9= @ 0.00089100
TP10= Free
