Bullish engulfing candle at support

TradingView2026/05/07 22:45

By:TradingView

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

VITL started accumulating in a narrow range, near a very strong support zone. Yesterday's candle is bullish engulfing candle with above average volume. RSI is rising, clear bullish divergence can be seen. Price just crossed daily EMA20. I think it is safe to take a long trade as long as it doesn't fall below 11.8 (SL 11.7). I will consider the gap at 21-24 area as target with some partial book at intermediate levels marked.

I'll revaluate once if it hits the final target. It might push further afterwards.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Bullish engulfing candle at support

You may also like

Crypto prices