LOOPRING/BITCOIN is in a downtrend and beginning of uptrend is expected.
The price is below the 21-Day WEMA which acts as a dynamic resistance.
The RSI is at 40.
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
Trading suggestion:
The price is in a downtrend and we forecast the uptrend would begin.
There is a possibility of temporary retracement to suggested support zone (0.000050 to 0.000043). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.000050)
Ending of entry zone (0.000043)
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.
I will update this chart as new info comes up for my followers.
The information provided by @arjunsingh is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs.
