The market dropped to the support zone formed by the uptrend line and 0.017000 support level. This zone can stop and reverse the falling market. In order to catch a possible upward movement after price reversal, we can place pending orders for buy above the local swing high based on the 1H chart. If we get a new swing high which is lower than 0.019300 level, we’ll move pending orders to the new swing high. Stop orders must be placed below the uptrend line. Profit targets are at the resistance levels.
If the price breaks the uptrend line without activation of pending orders, we’ll have to delete these orders and wait for a new trading opportunity. The market will be able to bounce from the support level. It will be a new buy signal based on price reversal. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
Profit Targets: 0.022500 and 0.024500
The trading signal is based on Poloniex chart.