According to the H1 time – frame, I found that price did fake breakout of the support ($6.361), which is a sign that sellers got trapped. I also found potential end of the downward correction (abc flat), which is another sign of strength. My advice is to watch for potential buying opportunties on the dips. The upward take profit levels are set at the price of $6.616 and at the price of $6.748.
Support/Resistance
$6.456 – Intraday resistance
$6.349– Intraday support
$6.616 – Objective target 1
$6.748 – 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 did fake breakout of the support ($6.361), which is a sign that sellers got trapped. I also found potential end of the downward correction (abc flat), which is another sign of strength. My advice is to watch for potential buying opportunties on the dips. The upward take profit levels are set at the price of $6.616 and at the price of $6.748.
Support/Resistance
$6.456 – Intraday resistance
$6.349– Intraday support
$6.616 – Objective target 1
$6.748 – 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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