HEXUSD Perfect buy opportunity.

2 Mei 2023

HEXUSD has almost reached its 1D MA200 (orange trend-line), which is untouched since February 05. Following our buy call almost 3 months ago, which gave +125% profit (see idea below), we are now looking for a new buy as it has starting fulfilling certain conditions:

Reaching the 1D MA200 is one of those conditions. Second is having the 1D RSI almost oversold just above the 30.00 barrier. But perhaps the strongest buy signal of all is given by the fact that it is near the 1.618 Fibonacci retracement level. It was on August 14 2022 that a 1.618 Fib contact started a long-term decline towards the 4.0 Fib extension. Given that we see the rise since the December 29 2022 bottom as an inverse sequence of that fractal, we expect HEX to start rising again. Our first Target is 0.1000 and second 0.1800.

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