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CryptoRichCrypto
Sep 5, 2021 4:11 AM

SOFI PRICE ANALYSIS Long

SoFi Technologies, Inc.NASDAQ

Description

SOFI is at an extremely important phase in its price action. There is an enormous triangle formed both on the 4h, and on the RSI chart within the same timeframe (with up to a 3% error.) We saw a false break of the pattern 9/3, and awate a more clear break of the pattern. A possible double bottom could be playing out with troghs on 8/17 and 8/31. A break of this long term triangle pattern could indicate an end to the downtrend. Potential support/resistance lines are displayed on the chart. On the other hand, if the downtrend is not broken, a retracement as low as the base line displayed above could occur (and then possibly lower.) Aside from the slight possibility of sideways trading, it seems likely we will see a significant price change soon.
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CryptoRichCrypto
This is not financial advice and these are sticky my opinions, posted for educational reasons only.
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