LTCUSDT has very clear support and resistance zones, trading between the lines for small gains.
Retesting the support/resistance at $65 currently.
This trade:
Entry - Av. price $65.2
Stop - 64.7
Target - 66.6 - Which also coincides with the .382 Fibonacci retracement
ETHUSD has bounced, twice now, off the bottom $177.7 support line.
Taking a small position with a conservative target of $219 just below the .236 Fibonacci level.
Stop Loss: below the $177.7 support at $175
MACD and RSI showing bullish signs
BTC has been trending in this symmetrical triangle since mid-June. The support line has been respected since early April, being a previous resistance.
BTC is showing early signs of bounce from this support line once again. RSI has formed a higher low which shows bullish divergence.
I am long and targeting near the top of the triangle, around $11250.
Ive drawn 2 bullish scenarios for short term trades.
1. the blue arrow. Potential bounce off the horizontal ray at $10160 which coincides with the .236 Fibonacci level. With my conservative target at the .5 Fib at $10880 for around 5-6% scalp.
I have taken a small position around $10200. Stop loss just under $10k
2. The purple arrows. BTC breaks the...
Waiting on a break out of this Ascending Triangle.
The higher lows on price action and RSI gives me reason to believe it will be to the upside. But waiting on conformation.
ETHUSD is at an important level right now, just touching a long term trend line. If this holds ill be looking for an entry and then targeting the horizontal resistance at $270.
The reason I am leaning towards the bullish side is largely to do with the RSI. Ill also be watching the RSI to see how it reacts to the Orange trend line.
I expect a correction to the downside. Targeting the green rectangle between the 0.5 and 0.382 Fibonacci levels, which coincides with the 200EMA, as well as previous resistance at $10155
RSI has now shown a lower high after being well into the overbought region. MACD crossed over indicating bearish divergence.
Posted this a few hours ago with incorrect chart.
I expect a correction to the downside. Targeting the green rectangle between the 0.5 and 0.382 Fibonacci levels, which coincides with the 200EMA, as well as previous resistance at $10155
RSI has now shown a lower high after being well into the overbought region. MACD crossed over indicating bearish divergence.
So
Scenario 1. We've hit resistance/support at $9350. Moving upwards, my short term target is the 0.5 fib level at $11180.
Scenario 2. we break the $9350 to the downside and find ourselves in the Buy/Accumulation Zone, where I will be doing exactly that.
Enjoy Boys
