Long

Is the market ready to rally?

Updated

We still need to keep an eye short term on it, but it looks like a full retracement on all the altcoins has reached its bottom.

Note

We are not seeing bearish divergence on the MACD or RSI if we are able to consolidate above the 54.8 dollar mark it is probable that we will be able to clime above 60 dollars there we will have to reevaluate the conditions of the market. In case of a strong breakout we should be taking a break near the 70 dollar mark and look for divergence.

Note

We are breaking out of the triangle in the 15 min chart, we need a full candle outside of it on the 4h chart and as described in the chart we need to trade above 60 dollars to have a good chance that the bottom is set.

Note

And here we are, out of the triangle and trading above 60 dollars. Now we need time and be able to consolidate in that range.

Trade closed: target reached

BitManagementCapital

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