LBCBTC significant area to enter with low risk
Visible GAP from beginning of November has established strong resistance which hold the price below this level for the past 4 months. Chart shows two rejections on 4H and Daily interval with nice double top formation with accompany of doji candles. Pair has stopped depreciation around strong psychological level 0.0000100000 between mid of February to mid of March which results in trend reversal with sharp movement towards north. GAP support is tested on Daily chart for time being. There are also two more important signals which 50% retracement plus round number 0.000040000 which is slightly below GAP.
----->If the GAP hold further losses and push pair above this level it will be solid signal to go long with relative low risk compare to potential profit.
SL is set just below of Daily candle and TP around 0.000100000 and I think it is very possible that it will reach 200 ema and it is wise in my opinion to close position.
----->If the GAP hold further losses and push pair above this level it will be solid signal to go long with relative low risk compare to potential profit.
SL is set just below of Daily candle and TP around 0.000100000 and I think it is very possible that it will reach 200 ema and it is wise in my opinion to close position.
Penafian
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