Will Theta Fuel (TFUEL) Bounce?

Here is a chart setup that I don't usually share/trade... Looking to catch the 'bounce'.

Theta Fuel (TFUELBTC) printed a strong correction that lost momentum on the way down and stopped at EMA50, which is also just below the 0.786 Fib. retracement support for the last strong wave.

This is an important support level so a bounce here can take place.

The risk here is much higher than buying the low because sometimes prices can continue straight down rather than bouncing back up.

Even if prices bounce, we expect more correction followed by consolidation before the next strong bullish jump.

So, after the green arrow (if it happens), we still expect another drop.

Namaste.

تعليق:

Theta Fuel | TFUELBTC

ENTRY: 0.00000067 - 0.00000072

TP1: 0.00000079 |Hit
TP2: 0.00000087 |Hit
TP3: 0.00000105 |Hit
TP4: 0.00000115 |Next target.
TP5: 0.00000128

STOP: Close daily (D) candle below 0.00000061.