This pair is showing us bullish movements and here are a few things I see:
Higher Low
Price might face some resistance heading up but that's usually the case in any market. We are counter trading the market, since it's been on a downtrend, and no lower high has been shown.
The Goal:
Anything above the horizontal dashed line near price, or the one higher near the major bearish push, but we must remain patient as the market just opened.
The Con:
Market just opened, some might see the market still bearish due to the previous push, so expect heavy volatility.
What do you think about this analysis? Would you like to see more? Let me know in the comments, giving a like on this, or reaching out via Direct Message! - ecryptfx
Higher Low
- Shown on higher timeframe
- Most see this as an indication of price being bullish
- As seen at the current low, wicks, and candlesticks
- Bullish Engulfing are being shown/attempted
Price might face some resistance heading up but that's usually the case in any market. We are counter trading the market, since it's been on a downtrend, and no lower high has been shown.
The Goal:
Anything above the horizontal dashed line near price, or the one higher near the major bearish push, but we must remain patient as the market just opened.
The Con:
Market just opened, some might see the market still bearish due to the previous push, so expect heavy volatility.
What do you think about this analysis? Would you like to see more? Let me know in the comments, giving a like on this, or reaching out via Direct Message! - ecryptfx