Hello Friends,
Right off I just want to say that I am not into this trade but have decided to do this chart for those who seem stuck within this shit coin.
So here we are, what is the next move? Well it surely hasn't been looking good since that last blast off with the spurring of the divergence seen on this chart. Is there light at the end of the tunnel? It really is hard to say, which is why I present two scenarios here. It is clear that the pattern here presents a contractring triangle and has completed its ABCDE cycle.
Now is the critical moment of where it will go. Because of the bearishness of this coin it could easily go south. However the bright side is, RSI is in a buy zone and take note of the rounded bottom that has been created, highlighted with a parabolic green line. The fractal gives a current buy signal but could change in a day or two. Take note that the MACD and RSI are on an incline since it lowest point and there has been a bit of a shift in higher lows since the latest spike. Honestly it is really difficult to determine if this is a bearish triangle or bullish, thus the two scenarios are here for you to watch which way it plays out.
Details on the chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
Right off I just want to say that I am not into this trade but have decided to do this chart for those who seem stuck within this shit coin.
So here we are, what is the next move? Well it surely hasn't been looking good since that last blast off with the spurring of the divergence seen on this chart. Is there light at the end of the tunnel? It really is hard to say, which is why I present two scenarios here. It is clear that the pattern here presents a contractring triangle and has completed its ABCDE cycle.
Now is the critical moment of where it will go. Because of the bearishness of this coin it could easily go south. However the bright side is, RSI is in a buy zone and take note of the rounded bottom that has been created, highlighted with a parabolic green line. The fractal gives a current buy signal but could change in a day or two. Take note that the MACD and RSI are on an incline since it lowest point and there has been a bit of a shift in higher lows since the latest spike. Honestly it is really difficult to determine if this is a bearish triangle or bullish, thus the two scenarios are here for you to watch which way it plays out.
Details on the chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!