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TechNerdOmar
Jan 27, 2022 11:20 AM

FLUX Fell Off a Cliff. Now What?! Potential 30% spike. Long

FLUX / TetherUSBinance

Description

BINANCE:FLUXUSDT is another hype crypto that is probably another scam. Regardless, the chart shows a technical setup that can return 28% once confirmed by breaking above the ascending triangle reaching a target of $2.168. At the same time, we see a unique RSI pattern. There are three lows in price aligning with three lows in RSI which I have marked with vertical lines. The first two lows show RSI divergence which is a sign of reversal. The third low in price shows a higher low in RSI which is confirmation of the reversal trend. On top of that, we see an ascending triangle forming. The triangle is not confirmed because it needs 3 touches on each side. Currently, each side has two touches only.

Conclusion: We wait for the triangle to be confirmed. Then there is an obvious trade set-up.

Order cancelled

Triangle broke down. This trade is called off.



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Leocryptowizard
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