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There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (47000.00 to 45000.00). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
- Beginning of entry zone (47000.00)
- Ending of entry zone (45000.00)
- While the price is above the support 40000.00, continuation of uptrend is expected.
- We make sure when the resistance at 61624.15 breaks.
- If the support at 40000.00 is broken, the short-term forecast -continuation of uptrend- will be invalid.
- There is a divergence in RSI and price between the peak at 58252.85 on 2021-02-21 and the peak at 61624.15 on 2021-03-13, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
- While the RSI uptrend #1 is not broken, bullish wave in price would continue.
- A peak is formed in daily chart at 60122.80 on 04/02/2021, so more losses to support(s) 58252.85, 52000.00, 47000.00 and minimum to Major Support (40000.00) is expected.
- Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
- Relative strength index (RSI) is 62.
Click on the level to view price action history.