Histogram is showing positive divergence + in 4h. The price is hovering close by MA100 line and it bounced off from the top level of the box. It is necessary to move above these downtrend lines before moving further upwards. MA50 has acted as (if you look in to 4h chart you see it) and once it breaches above it, it is good indicator that the price is going to move up. Long wicks are also indicating that buyers are gaining more strength and supporting reversal movement. These are considered as sign of reversal. Buy orders should be set above MA50, above first downtrend line or at 11,800 level.
I'll keep it short this time.
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Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.