To get a long position in ZECBTC I would like to see the price retrace a bit to test support before rising further.
To see at which price levels a retracement might reach I like to use a fibonacci range over the entire move from the low below the 200 MA to the last high.
I will keep drawing this fib up to the high with this runup untill it starts to retrace.
To see at which price levels a retracement might reach I like to use a fibonacci range over the entire move from the low below the 200 MA to the last high.
I will keep drawing this fib up to the high with this runup untill it starts to retrace.
Commentaire:
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The 0.50 and 0.618 fib levels are healthy retracements which we like to buy when they fall on to previous highs.
This is based on resistance becoming support.