If we look at the 1H chart, we’ll see a double bottom chart pattern. It belongs to a reversal group of chart patterns. If the market bounces from the uptrend line and 0.80000 support level, we’ll have to wait for a price breakout above the local swing high. It will be a confirmation of the double bottom pattern and further upward movement. Pending orders for buy should be placed at 0.92000 level. Stop orders must be below 0.758000 level. Profit targets are at 1.0000 and 1.10000 resistance levels. Also the part of trading volume can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
Profit Targets: 1.0000 and 1.10000
The trading signal is based on Bitfinex chart.