RSI confirms reversal in the price movement. The price has been bouncing off from the support level around 7.5 and ma50 which is giving confirmation for further upward movement. Buy orders should be set above 8.5 level. As RSI has climbed this high it's possibility for retrace is high. Might be that retrace is small in term of the price but I recommend to be extra carefulness with this trade! Always remember to use stop-losses!
Note this is a longer term trade!
Trading information: Buy: above 8.5 Profit targets: 9.2 near resistance level and 10.5 Longer Term Profit: 12 level Stop-loss: 7.5
Things to remember:
To trade safely we need to use stop losses in case something goes wrong.
Note this is a long term trade! Requires patience and flexibility to adjust the sails of the market movement.
Always be aware of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!
It's better to wait than to regret. This is important when you are doing long term investments! Knowledge behind of your trades gives you success, more often!
Any questions or need help? Feel free to leave comments and feedback! Yarr!