Bullish RSI divergence can be seen in the above chart alongside a consolidation followed by a breakout with a huge volume and then a retest. It is on its major support, take entry when it forms a bullish candle just for the sake of confirmation. Enter with a stop loss on the 20 EMA support and this setup shall work. Since RSI is one of the most reliable indicators and here I have used volume as well this breakout is strong enough. Rest depends on the reaction of Bitcoin because its looking weak now. I have kept a big R:R but keep it 1:4 only and keep trailing your Stop loss. Happy Trading!
Commentaire:
Half target achieved. Book Partial profit.
Trade fermée: cible de profit atteinte