I am looking for a reversal here at around 1.272 fib extension.
looks oversold and could be turning up soon.
I am watching price action here closely and will be looking for a trade entry if the opportunity arises.
The stop loss has been moved slightly lower than shown in the original setup and is now near 0.00303 BTC. Once again this level is not set in stone. Just like my entry, I scale out of the position for my stop loss. Trading this pair takes much more work than trading a normal forex pair where liquidity is not an issue, more attention must be paid to highly volatile rapidly changing markets in crypto.
Entry: 0.00328 BTC
Stop Loss: 0.00303
Target 1: 0.00382
Target 2: 0.0043