Trading recommendations: According to the H1 time frame, I found a potential bullish flag in creation, which is a sign that selling looks risky. I also found a hidden bullish divergence in the background, which is another sign of strength. My advice is to watch for a potential brerakout of the bullish flag to confirm a further upward movement. The upward target is set at the price of $6.766.
With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The material has been provided by InstaForex Company – www.instaforex.com
Trading recommendations: According to the H1 time frame, I found a potential bullish flag in creation, which is a sign that selling looks risky. I also found a hidden bullish divergence in the background, which is another sign of strength. My advice is to watch for a potential brerakout of the bullish flag to confirm a further upward movement. The upward target is set at the price of $6.766.
Support/Resistance
$6,327 – Intraday resistance; $6,085 – Intraday support; $6,146 – Objective target
With InstaForex, you can earn on cryptocurrency’s movements right now. Just open a deal in your MetaTrader4. *The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: