OG DeFi Play ALPHA has had some stick recently trying to get some funds back from a partner but prices is still showing some decent wicks up which appear to be getting sold as it comes inclose to the long down trend line will price action push above for a miracle breakout?
Showing some bearish divergence which doesn't bode well for potential upside but at the same time printing higher highs and higher lows which is positive.
Can see a potential inverse head and shoulders pattern forming as well.
There is also a bullish wedge forming.
Finally the cloud is showing massive resistance, but if we get a strong breakout and a close in the cloud it could be action time for ALPHA for an edge to edge trade of the ichimoku cloud.
Some good R:R if we breakout, I will be watching closely but expecting nothing.
Peace. NFVeeJ.
Showing some bearish divergence which doesn't bode well for potential upside but at the same time printing higher highs and higher lows which is positive.
Can see a potential inverse head and shoulders pattern forming as well.
There is also a bullish wedge forming.
Finally the cloud is showing massive resistance, but if we get a strong breakout and a close in the cloud it could be action time for ALPHA for an edge to edge trade of the ichimoku cloud.
Some good R:R if we breakout, I will be watching closely but expecting nothing.
Peace. NFVeeJ.