The cup is damn obvious. The handle looks almost formed. Price action dropped below the kijunsen earlier, but as we can see, the 50 EMA is going to cross 100 EMA from bottom up soon. Even if price drops below my predicted handle shape, it should bounce off the cloud and rocket to the moon.
Naturally the cloud should be your support or stop loss.
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Hammer doji. Get ready for reversal.
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It seems obsidianram is right, and there may be a head and shoulders after all. simply not enough volume in crypto right now.
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It seems like we will have a rejection of head & shoulders. Now all we need is volume and this thing will blast off to the moon
I'd also be cautious that this doesn't turn into an H&S pattern, and end up at the 2500-2600 level, depending on the story other indicators have to tell.
Somewhere around 4500'ish would be the critical turning point, I would guess, if H&S is the final result. Let's see how it plays out!
LimKopi
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@obsidianram, Awesome addition. Appreciate it alot man!! =)
Somewhere around 4500'ish would be the critical turning point, I would guess, if H&S is the final result. Let's see how it plays out!