Time to buy.
Here is a hourly chart of Huobi.
As seen from the chart, Fib 1.618 has become a support level together with a resistant level.
Also, RSI divergence has ocurred.
The reason for which I did not buy before was that the bottom could not be confirmed. The similar situation is where a red arrow is pointing.
Now it is time to buy at Fib 1.414.
A buy zone I believe is a rectangle box colored Red.
But be advised that it is important to make sure the deal is successful.
'A' zone was a previous buy zone I thought, but the price has not gone that far, and bounced off.
In the long term - on a daily chart - Wave 2 appears to be finishing and Wave 3 to be commencing.
Of course, the price may go down once more, althought it is much less likely.
Should the price break into 2154 Yuans and go further a little, I ought to contemplate to cut loss. That may be presaging double bottoms, but I am presently thinking that less likely.
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I have bought with two-thirds of my asset at 2162 Yuans, and am going to make another deal 5 hours later on with the rest cash.
Of course I have used 3x leverage.
It would not hurt to buy a little above the lowest, lest the deal be unaccomplished
Although one may want to buy lower, I recommend to buy now or somwhere around 2160 Yuans.
Kindly leave a comment which is going to be helpful for amateur traders like me.
Thank you.
As seen from the chart, Fib 1.618 has become a support level together with a resistant level.
Also, RSI divergence has ocurred.
The reason for which I did not buy before was that the bottom could not be confirmed. The similar situation is where a red arrow is pointing.
Now it is time to buy at Fib 1.414.
A buy zone I believe is a rectangle box colored Red.
But be advised that it is important to make sure the deal is successful.
'A' zone was a previous buy zone I thought, but the price has not gone that far, and bounced off.
In the long term - on a daily chart - Wave 2 appears to be finishing and Wave 3 to be commencing.
Of course, the price may go down once more, althought it is much less likely.
Should the price break into 2154 Yuans and go further a little, I ought to contemplate to cut loss. That may be presaging double bottoms, but I am presently thinking that less likely.
--------------------------------------------------------------------------------------------------
I have bought with two-thirds of my asset at 2162 Yuans, and am going to make another deal 5 hours later on with the rest cash.
Of course I have used 3x leverage.
It would not hurt to buy a little above the lowest, lest the deal be unaccomplished
Although one may want to buy lower, I recommend to buy now or somwhere around 2160 Yuans.
Kindly leave a comment which is going to be helpful for amateur traders like me.
Thank you.
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