Entry price: 243-245$
Target price: 283$
Stop loss: 240-243$
Bollinger Bands: The price is under the lower band.
RSI: Indicator crossed the 30 level, therefore the assets is oversold.
Conclusions: RSI and Bollinger Bands suggests upcoming trend reversal. However the price already crossed the 1.618 Fibonacci Retracement level, thus the entry price is recommended above that line with the stop loss under 243$ in case of continuation of the trend and retesting the new resistance level at that point.
Above information should be treated in informative/education purpose, no financial advice.
Target price: 283$
Stop loss: 240-243$
Bollinger Bands: The price is under the lower band.
RSI: Indicator crossed the 30 level, therefore the assets is oversold.
Conclusions: RSI and Bollinger Bands suggests upcoming trend reversal. However the price already crossed the 1.618 Fibonacci Retracement level, thus the entry price is recommended above that line with the stop loss under 243$ in case of continuation of the trend and retesting the new resistance level at that point.
Above information should be treated in informative/education purpose, no financial advice.
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