We broke down from the smaller triangle (there was also a short-term ascending channel from which we broke down).
Reached the bottom of the larger triangle and now we need to see whether it will bounce from here again like the previous 2 times or whether we will see a move down to the indicated targets.
The target in yellow is from the breakdown of the smaller triangle and the red is from the double top that is forming with the neckline at about 0.8.
First major support is at 0.75 which if broken will take us to the next major support at 0.63 (a move that I have been waiting for for some time). Below that we will gho all the way to around 0.47.
RSI is moving down and MACD about to cross -.
The 20EMA is about to cross below the 100EMA and that is not a very good sign.
Moving up we have immediate resistance at 0.9 then at 1.0 and then 1.05 to deal with.
If we break down from the big triangle and restest is unsuccessful we will definitely be tested the aforementioned targets. But this area has provided decent support in the past so let's see what happens in the next few hours.
Not Fin advice just calling what I see. Any constructive criticism is always welcomed.
Reached the bottom of the larger triangle and now we need to see whether it will bounce from here again like the previous 2 times or whether we will see a move down to the indicated targets.
The target in yellow is from the breakdown of the smaller triangle and the red is from the double top that is forming with the neckline at about 0.8.
First major support is at 0.75 which if broken will take us to the next major support at 0.63 (a move that I have been waiting for for some time). Below that we will gho all the way to around 0.47.
RSI is moving down and MACD about to cross -.
The 20EMA is about to cross below the 100EMA and that is not a very good sign.
Moving up we have immediate resistance at 0.9 then at 1.0 and then 1.05 to deal with.
If we break down from the big triangle and restest is unsuccessful we will definitely be tested the aforementioned targets. But this area has provided decent support in the past so let's see what happens in the next few hours.
Not Fin advice just calling what I see. Any constructive criticism is always welcomed.
Comment:
Currently testing the 200EMA on the daily