Irrespective of the chart pattern in focus, it is best to see a breakout taking place above the long term moving-average. The 200-day MA is used to fitter the trend.
In this chart the breakout is just taking place and it did nt only cleared the neckline but also the 200-day moving average.
The cup must have a handle on the right. Cup rims should be near the same price level but be flexible.
The potential breakout its only valid when price stays above the cup rim and above the 200-day MA. Breakout looks more clear with a lot of resistance(clearly indicating targets to the upside.
Breakout: 0.007160sats
Resistance 1: 0.007273
Resistance 2: 0.007417
Resistance 3: 0.007668
Resistance 4: 0.008048
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
In this chart the breakout is just taking place and it did nt only cleared the neckline but also the 200-day moving average.
The cup must have a handle on the right. Cup rims should be near the same price level but be flexible.
The potential breakout its only valid when price stays above the cup rim and above the 200-day MA. Breakout looks more clear with a lot of resistance(clearly indicating targets to the upside.
Breakout: 0.007160sats
Resistance 1: 0.007273
Resistance 2: 0.007417
Resistance 3: 0.007668
Resistance 4: 0.008048
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.