Price bounced from the uptrend line and RSI confirms price reversal. We have a possible buy opportunity. If the market breaks the top border of the descending price channel, we'll have a confirmation for further upward movement. Based on the local swing high from the hourly time frame, we can place pending orders for buy above 43.80 level. Stop orders must be placed below 38.00 level which it the local swing low. Profit targets are 50.00 and 55.00 resistance levels. Also you can leave a part of buy positions for long run.
@obainosoft, be ready for possible downward movement. But in long term the market can move much higher than 55.00 level.
shadowforworld
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@DLavrov, Thx. On Polo now price to low that other exchange... is good sign i think or not ?
DLavrov
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@shadowforworld, if you trade for middle or long term, it does not matter. For short term it's important. As for low price - different exchnages provide different prices. It is ok! But be careful with Poloniex!
@DLavrov, What exchange do you trade on? I'm new to the cryptospace and I'm on polo for most of my altcoin purchases. I've been reading some horror stories about polo and their withdrawal issues. Some people haven't been able to withdraw their coins since 1-2 months.
@sasha_morozov, I doubt it would be holding up this well above 40 if investors really felt it would tank. its $40 price being held is a very bullish indicator in itself,.