Analysis methods:
1- Use modified Andrews fork:
You can see that the price is at the bottom of the fork. According to the second law of the fork, the price tends to reach the middle line of the Andrews fork more than 80% of the time.
2- Descending triangle chart pattern:
3- Use Fibonacci projection to represent the length of the base of a triangle on the exit of the graph from the chord of the triangle.
The initial target of this symbol can be around $ 3 (61.8% level) and in accordance with ceiling A.
The next target can be about $ 4 in height equal to the height of the base of the triangle (100% level).
Due to the entry of RSI into the overbought range, There is a possibility of a minor correction.
HOWEVER:
If you wish to enter this cryptocurrency, please determine the appropriate stop loss for yourself.
Comment: Dear followers and users of TradingView. I am glad to share my ideas and analysis with you.
Please support me with your LIKES and COMMENTS below this idea.
Sincerely, Piroozman.
Good luck.
1- Use modified Andrews fork:
You can see that the price is at the bottom of the fork. According to the second law of the fork, the price tends to reach the middle line of the Andrews fork more than 80% of the time.
2- Descending triangle chart pattern:
3- Use Fibonacci projection to represent the length of the base of a triangle on the exit of the graph from the chord of the triangle.
The initial target of this symbol can be around $ 3 (61.8% level) and in accordance with ceiling A.
The next target can be about $ 4 in height equal to the height of the base of the triangle (100% level).
Due to the entry of RSI into the overbought range, There is a possibility of a minor correction.
HOWEVER:
If you wish to enter this cryptocurrency, please determine the appropriate stop loss for yourself.
Comment: Dear followers and users of TradingView. I am glad to share my ideas and analysis with you.
Please support me with your LIKES and COMMENTS below this idea.
Sincerely, Piroozman.
Good luck.