Looking at the chart we can see a large descending triangle. Our low support is around 6.10
As of
Now I had an ascending traingle drawn however it’s not that clean and could be more of a rising wedge.
If we broke down however, our target lands around 5.61$ which could be a break of this triangle. We have to expect if we broke down that 6.10 could hold as support.
Now as of right now, we have killer support between 6.99$- 7.05$
We have to be cautious as this could result in a big move down, however if we could breakout of the larger pattern I am spotting, a safer bet or entry would be around 8.40
Play at your own risk
Support 7.05
6.10
5.61
Resiatnce
7.77
8.06
8.11
As of
Now I had an ascending traingle drawn however it’s not that clean and could be more of a rising wedge.
If we broke down however, our target lands around 5.61$ which could be a break of this triangle. We have to expect if we broke down that 6.10 could hold as support.
Now as of right now, we have killer support between 6.99$- 7.05$
We have to be cautious as this could result in a big move down, however if we could breakout of the larger pattern I am spotting, a safer bet or entry would be around 8.40
Play at your own risk
Support 7.05
6.10
5.61
Resiatnce
7.77
8.06
8.11