Will the triangle break on the upside?In the chart, we see the formation of a triangle pattern, and if there is a successful failure with good volume, we expect an increase or fall as much as the base of the triangle. The reason for the formation of an upward trend in the higher time frame is the expectation of the triangle breaking in the upward direction. I have important support on the price of 0.9185 and resistances on the way of the trend at 0.9971 and 1.0115 and I expect growth up to the price of 1.1001.
Market insights
CRVUSDT | KEY AREACRVUSDT is trending near horizontal resistance zone. The price action shows that earlier price get rejected from same area.
The rejection from resistance zone will bring bears and can approach to risisng trendline. While the break above mentioned zone will bring bulls in complete control.
CRVUSD (Daily) Bearish Wave We2Hi Traders
CRVUSD (Daily Timeframe)
A High probability, entry signal to go SHORT will be given with the downward break of 0.678 after the market found resistance at 0.878. Only the upward break of 0.878 would cancel the bearish scenario.
Trade details
Entry: 0.678
Stop loss: 0.878
Take profit 1: 0.340
Take profit 2: 0.116
Score: 8
Strategy: Bearish Wave We2
CRV is moving to where it startedBINANCE:CRVUSDT price has been falling since the begging of 2022. It dropped by around 90% from its top of $6.9.
The price is still under 21 and 30 day EMAs. So, there is no need to change the strategy. It is still a bear trend. I expect the price will test November-December 2021 lows, and even lower in the next term.
After this sell-off, there will eventually be a consolidation. But this is another story.
This may mean that there will be a bearish + consolidation period in the next couple of months. To recap, a bearish trend is the main scenario.
This is not a financial advice. Trade wisely.















