According to the H1 time – frame, I found that price is trading inside of the trading range. I found a potential end of the downward correction in the background (abc flat), which is a sign that selling looks risky. My advice is to watch for a potential bullish breakout of the channel to confirm the upward continuation. The upward targets are set at the price of $8.486 and at the price of $8.783.
Support/Resistance
$8.257 – Intraday resistance
$8.000– Intraday support
$8.486 – Objective target 1
$8.783 – Objective target 2
With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.
The material has been provided by InstaForex Company – www.instaforex.com
Trading recommendations:
According to the H1 time – frame, I found that price is trading inside of the trading range. I found a potential end of the downward correction in the background (abc flat), which is a sign that selling looks risky. My advice is to watch for a potential bullish breakout of the channel to confirm the upward continuation. The upward targets are set at the price of $8.486 and at the price of $8.783.
Support/Resistance
$8.257 – Intraday resistance
$8.000– Intraday support
$8.486 – Objective target 1
$8.783 – Objective target 2
With InstaForex you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4.
The material has been provided by InstaForex Company – www.instaforex.com
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