$LBC-BTC has reached major support level and I am buying this Dip

cryptokraze (72)in #bitcoin • 7 years ago

CryptoKraze here

In this post I am going to cover technical analysis of $LBC for upcoming possibility. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of $LBC.

Possibility on 4 hour Chart

If you look at the 4 hour chart, you will see that $LBC has reached a major support level. Looking at RSI, we can see it is oversold and below 30 level and it should come up now. The price has touched lower bollinger band and this is also an indication of oversold condition. So, we should see a bounce back as soon as bitcoin stop falling.

I have a buy entry at 0.00005500 and my profit target will be around 0.00009000 for mid-term.
Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.

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Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.

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