There is a possibility for the beginning of an uptrend in WTCETH
Technical analysis:
. Walton/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 30.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.004350 to 0.003000). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.004350)
Ending of entry zone (0.003000)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.005800
TP2= @ 0.007150
TP3= @ 0.009600
TP4= @ 0.011600
TP5= @ 0.016150
TP6= @ 0.019750
TP7= @ 0.023400
TP8= Free
. Walton/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 30.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.004350 to 0.003000). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.004350)
Ending of entry zone (0.003000)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 0.005800
TP2= @ 0.007150
TP3= @ 0.009600
TP4= @ 0.011600
TP5= @ 0.016150
TP6= @ 0.019750
TP7= @ 0.023400
TP8= Free
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