Now a pullback and possibly a formation similar to a symmetrical triangle is forming above the channel. The target for the triangle is 18%.
The zone for observation and strong resistance is indicated in purple. Also, this zone is equivalent to the width of the former accumulation channel. As a rule, if there is no strong trend up / down movement, prices start lateral movement to the width of the previous channel ( ).
It is worth noting that with a high degree of probability we will test new support (the previous channel resistance).
If support is confirmed, then for a certain time the price will move sideways with a 23% step between the border of the previous channel and the zone indicated by purple.
If the price overcomes this zone (in purple) and fixes above it, this will mean a full trend reversal.
1) On a breakthrough or rollback after a breakthrough of a local downtrend line of the formation.
2) When confirming a new support (previous channel resistance).
An unlikely scenario.
When testing a new support (previous channel resistance), the price falls back to the previous channel.
Then trade in the channel, from the to the .
A safe purchase in such cases will be:
1) from the bottom of the channel.
2) above the channel resistance.
Under key support levels during your entry into the market.
1) in a triangle if it is formed + 18%.
2) from the re-test of support if confirmed + 23%.
The previous trading idea for this coin but in the pair EOS/USD which gave + 80% from the first entry point.
Which is still relevant for work.
EOS local downlink. Potential from + 50% Dec 6, 2019
We reached the entry zone a week later.
The first profit is slightly more than + 80%.