If you look at every daily chart, you will see that almost every coin has a bullish pattern sign. This doesn’t really imply that the downtrend is over or that there will be an uptrend. We only know that the bulls are declining the downward trend.
First of all I want to tell you that this is an aggressive trade, so trade at your own risk! So after the uptrend, there was a downtrend. Eventually you see that the bulls declined the downward trend, and we see that a double bottom is forming. The pattern is NOT completed, that’s why this is an aggressive trade. The reason why I think that there is a possibility that the price will go up, is because of the support line 0.0016102 and the bullish pattern, which is the bullish engulfing pattern. Also the reward is really attractive if the double bottom pattern completes.
The setup for this trade will be:
- Invest 50% in this trade!
- The stop loss will be the support line of 0.0016102
- Target could be 0.0028088, but anything can happen on this way, that’s why I am going to update this chart until I am taking out my position.
ALWAYS keep in mind! That this is NOT an investment advice, but an analysis . You can do whatever you want with this information, so trade at your own risks!
First of all I want to tell you that this is an aggressive trade, so trade at your own risk! So after the uptrend, there was a downtrend. Eventually you see that the bulls declined the downward trend, and we see that a double bottom is forming. The pattern is NOT completed, that’s why this is an aggressive trade. The reason why I think that there is a possibility that the price will go up, is because of the support line 0.0016102 and the bullish pattern, which is the bullish engulfing pattern. Also the reward is really attractive if the double bottom pattern completes.
The setup for this trade will be:
- Invest 50% in this trade!
- The stop loss will be the support line of 0.0016102
- Target could be 0.0028088, but anything can happen on this way, that’s why I am going to update this chart until I am taking out my position.
ALWAYS keep in mind! That this is NOT an investment advice, but an analysis . You can do whatever you want with this information, so trade at your own risks!