Hi everyone,
Possible Head and Shoulders - Pattern plus rising wedge could send prices lower.
If this theory plays out, price is going to retest the downwards sloping resistance line, which should act as support now.
If the trendline gets broken, we could see prices around 4,4 k again.
There is also a big support around 5,2 k which could also hold.
As always, there are multiple scenarios, which you should keep in mind.
Let's see what will come...
As always: This is no financial advice and I am not your financial adviser.
Possible Head and Shoulders - Pattern plus rising wedge could send prices lower.
If this theory plays out, price is going to retest the downwards sloping resistance line, which should act as support now.
If the trendline gets broken, we could see prices around 4,4 k again.
There is also a big support around 5,2 k which could also hold.
As always, there are multiple scenarios, which you should keep in mind.
Let's see what will come...
As always: This is no financial advice and I am not your financial adviser.
Note
Bullish engulfing on 1 hour just closed. I think, we may go up if 5.2 k holds
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.