ETCUSD: Reversal Signals and When to Buy

The weekly chart gives us a reversal candlestick pattern. It is a bearish signal. The same goes for RSI and MACD histogram. They confirm the price reversal.

MACD lines and DMI support buyers as they provide bullish signals. But it will be logical if the price continues the upward movement after a pullback. This pullback is possible, and it will be able to provide good entry points for new long trades.

If we talk about a good zone for buying, it should be at 7.50 support. You will find this level as a support if you use the daily chart.

It is possible to start buying at 10.00 if you focus on the long term trading. But it should be done in the format of several long positions based on different entry levels. Such an approach will help to be in the market, even if the price bounces from 10.00 and continues the upward movement without deep correction. And of course, we have to look at the BTCUSD market. The upward movement in this market should be supported by an upward movement from Bitcoin.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.