HOOK has been trading inside a falling wedge for over 8 months now. In my view, a bullish break out of this pattern could lead to a new bull-trend for this token.
Naturally, a bullish BTC will help. Also, this trade could play out over the long-term, so no quick money here. Still, a risk-reward of 20 is very respectable.
I'm waiting for a daily candle to close above the top resistance to confirm the break out.
I'm aware that the bottom support of the wedge doesn't line up perfectly, shouldn't be much of a problem.
Such an interesting point of view and great explanation, well done mate. Keep it up!!
Psychometriks
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HOOK very nice
CryptoCheck-
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Great work here
Hellena_Trade
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Consistency at its finest! 📊 Your predictions are consistently accurate.
P_S_trade
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A good potential long trade. To start with, it would be nice to reach $1.5
EnzoAira
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just closed my long position thought it will dump hard, shoot me
FieryTrading
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@EnzoAira, Always remember to zoom out. On the other hand, the break out is not confirmed yet. Nevertheless, the pattern looks promising. Nothing wrong with stepping back into a trade btw, dont it plenty.
EnzoAira
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Well noted, yes, thanks, please update once it really confirmed. cause it looks interesting to me.