LISK/BTC Pair - Possible Head & Shoulders Downard Move
Chart shows a 12-hour time-frame in simple line format. Possibly a head and shoulders top that has broken the neckline, and come back up again to retest it (red line), and now begun moving down again. If it were to reverse again and break above that line, it could signal a buying opportunity, but otherwise, I see this chart pattern as bearish.
The MACD on this time-frame also looks weak to me, at least it doesn't have near the strength of the previous upward trends, and it along w/ the RSI are both falling. Higher time frame indicators don't seem to support a breakout to the upside either.
Caveat: I'm fairly new to trading, this is my first published idea. Open for feedback.
The MACD on this time-frame also looks weak to me, at least it doesn't have near the strength of the previous upward trends, and it along w/ the RSI are both falling. Higher time frame indicators don't seem to support a breakout to the upside either.
Caveat: I'm fairly new to trading, this is my first published idea. Open for feedback.