Vanry: Higher Low (How To Approach A Short-Term Trade)This pair looks good. The correction has been going for 210 days, from the March top to the latest low this month.
➖ VANRYBTC produced a major low on the 5th of August.
➖ On the 9th of October it produced a lower low. This is a lower low only by a few satoshis and the bullish signals comes as VANRYBTC is now green trading above the 5-Aug. low. Which means that support has been found or is being established.
Charts like this can always be early, this is why you see two support ranges mapped on the chart. The blue lines with orange marking.
➖ Once the low is hit, there can be a strong reaction and prices start to move forward; sideways for a few days/weeks and then the bullish breakout, or, one final low then growth. These are the three main scenarios.
Here we expect to see some kind of consolidation followed by a bullish breakout. Doesn't need to break right away, normally it takes some time.
This is a good one for a short-term trade. The pair is trading low/near support. The lowest price in 210 days. We grow from the bottom up.
Risk is very low with a tight stop-loss.
Risk is almost none existent with a long-term patience mindset.
How you approach this pair is completely up to you.
Remember to do your own research and planning.
This is not financial advice.
I am sharing my experience and translating the codes that are shown on the charts.
Thank you for reading.
Namaste.
