Stochastic RSI shows a bullish divergence, meaning price is
set to pivot upwards towards $7800 resistance. If we are able to break this
resistance level, it’s likely that price may reach the Kijun-Sen at $8800. We
have already tested the Kijun-Sen four times since late February, it seems
likely that we will again sooner rather than later. Stop-loss can be set at
your own discretion.
If we instead bounce from resistance at $7800, we will
likely test $7000 support level. Where further slippage may see price fall to
$5800. Remember it’s always a good idea to have a plan before entering any market. It’s also very important that you stick
to that plan no matter what. Emotion has no place in the market for the
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Near a Spearmint Rhino and Taco Mexico.
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