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Bixley
Nov 29, 2021 8:26 AM

Power of the 50MA - WAVESUSD 

Waves / US DollarBinance

Description

WAVESUSD can be seen to have formed two triangle formations, one distinct falling wedge , and ascending broadening. Depending on the way you look at it.
In the first ( falling wedge ) it can be seen that there is a common theme of a H&S pattern, but also, the 50MA acting as a resistance, causing further price breakdown
In the second (ascending broadening) the common theme is present, yet the 50MA is acting as a support. This leads me to believe that price will be supported by this MA level, regardless of the H&S pattern.
Price will increase, possibly breaking the channel.
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