It could be worth considering a similar price development structure as in May, June 2021 where the RSI bottomed at the low 40 region. Right now we are at the same RSI level and if price remains here, we could see a lower RSI while the price is much higher indicating a hidden bullish divergence. Historically, bullish divergences have led to a bullish trend from the newly formed bottom.
Thus, a Long entry in this range could be strong:
Risk Return rate: >7
Entry: 38-42k USD
SL: 35.8k USD
TP1: 59k USD
TP2: 69k USD
Good luck with your trades! Do not consider this as financial advice.
Thus, a Long entry in this range could be strong:
Risk Return rate: >7
Entry: 38-42k USD
SL: 35.8k USD
TP1: 59k USD
TP2: 69k USD
Good luck with your trades! Do not consider this as financial advice.
