Greetings fellow traders!
If your way of Technical Analysis is strong...
Then the path will show its way...
(*Asian sound effects*)
Short-Term:
Looks like a descending broadening wedge. Which has high probability of breaking out to the upside. However, we need to see candles closing significantly above the resistance. Please read mid and long-term analysis, why you have to be care full at this point.
Mid-Term & Long-Term:
Hate to say this, looking pretty bearish. One of my favorite coins might about going bearish on me. Mid-term patterns evolved into an ascending channel or rising wedgy-ish. Really hoping the bulls can muster the strength at support. Otherwise bearish breakout is inevitable. Although once again... We need to see candles closing significantly below the support. For bullish break out vice versa. Since channels tends to create more higher/lower highs and lows. The chance of retesting support is pretty big, hopefully the bulls succeed though. Then we might see a bullish continuation. Target 2021: Currently undetermined.
If you have any questions, do not hesitate to leave a comment.
Good luck, be careful and may the trend gods be with you!
If your way of Technical Analysis is strong...
Then the path will show its way...
(*Asian sound effects*)
Short-Term:
Looks like a descending broadening wedge. Which has high probability of breaking out to the upside. However, we need to see candles closing significantly above the resistance. Please read mid and long-term analysis, why you have to be care full at this point.
Mid-Term & Long-Term:
Hate to say this, looking pretty bearish. One of my favorite coins might about going bearish on me. Mid-term patterns evolved into an ascending channel or rising wedgy-ish. Really hoping the bulls can muster the strength at support. Otherwise bearish breakout is inevitable. Although once again... We need to see candles closing significantly below the support. For bullish break out vice versa. Since channels tends to create more higher/lower highs and lows. The chance of retesting support is pretty big, hopefully the bulls succeed though. Then we might see a bullish continuation. Target 2021: Currently undetermined.
If you have any questions, do not hesitate to leave a comment.
Good luck, be careful and may the trend gods be with you!
