LRCUSD Bull Flag with 1day Golden Cross emerging
Loopring's January rally that broke above Resistance A (0.4250) is on a Bull Flag pattern with a few days away from forming a 1Day Golden Cross. The strong rebound on the RSI shows that this pull-back may be coming to an end, especially if it (the RSI) crosses over its MA again.
The 1Week MA50 stopped the rally on Feb 2nd and caused the Flag pattern so logically we need to have it broken to buy. If it doesn, Target A = 0.52500 (Resistance B) and Target B = 0.66500 (Resistance C).
In the same sense, below Support A, we turn to selling with 5.7000 our Target.
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The 1Week MA50 stopped the rally on Feb 2nd and caused the Flag pattern so logically we need to have it broken to buy. If it doesn, Target A = 0.52500 (Resistance B) and Target B = 0.66500 (Resistance C).
In the same sense, below Support A, we turn to selling with 5.7000 our Target.
Follow us, like the idea and leave a comment below!!
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