Possible that we are seeing a "W" formation, aka., "Gartley", and or "Butterfly"
This isn't confirmed yet, and we want 'to see some closes above the $7 mark to even confirm this.
However, if this plays out as the pattern mentioned, then we will search a bearish momentum over take the coin.
That means, usually upon the exit of this pattern, the price goes down. I've highlighted a potential support box for when that time comes.
Until then, we are still expecting a rise higher up hopefully. The second bounce as mentioned in the previous ideas and this chart wasn't the strongest bounce up, so the strength right now is weak, and it may possible just continue sideways.
Previous chart:
This isn't confirmed yet, and we want 'to see some closes above the $7 mark to even confirm this.
However, if this plays out as the pattern mentioned, then we will search a bearish momentum over take the coin.
That means, usually upon the exit of this pattern, the price goes down. I've highlighted a potential support box for when that time comes.
Until then, we are still expecting a rise higher up hopefully. The second bounce as mentioned in the previous ideas and this chart wasn't the strongest bounce up, so the strength right now is weak, and it may possible just continue sideways.
Previous chart:
Comment:
Support zone hit
Way earlier than expected
Way earlier than expected
Comment:
We are now bullish long term.
Comment:
cup and handle very bullish if it breaks the top of the cup line
Downwards movement coming to $6.2