Krystiannwk

ETCETH possible trend reversal engulfing candle and round number

KRAKEN:ETCETH   Ethereum Classic / Ethereum
We can see here engulfing candle which established resistance for further losses. Engulfing candle alone is not a strong trend reversal signal but with round number (which seems to be much respected by crypto community) could be good point to enter with long position. It is possible that if price go north it will find strong selling pressure around GAP which is located at 0.080000. If the pair will manage to go thru that level it will most likely reach 0.10000. Safe SL would be small bit below shadow of the bearish candle from 17 of March with TP just before GAP.
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