Potential daily bear flag on CRON, If we reject from breaking the high of the previous day and lose the hourly uptrend, that will signal a search for a new daily support. If this happens tomorrow that increases the likelihood of the daily bear flag playing out
Daily EMAs on CRON are notable to me as signs of weakness. The daily chart is a choppy mess and I will likely stop making daily CRON videos until we get more discernible patterns because trading chop is a recipe for losing money. If we break our supports we are looking into potentially hourly oversold conditions
CRON is likely to test low of today as support first thing tomorrow, If we lose that we're looking down at a test of our support zone in the mid $20 range, otherwise we will likely form an hourly equilibrium with a lower high compared to the high of today. CRON is on watch for a beak of pattern this week
CRON bulls are attempting to change the hourly trend after building a base of support in the mid $20 range over the past couple of weeks. Friday daily inside bar levels are the key levels for me on the short term, before testing either support or resistance within this daily equilibrium
CRON hourly chart broke resistance but bears smacked the price back down. Watching for another test of our 20.53ish level tomorrow potentially, given the weak close. This level is a zone of support, and is a 4x bottom on the daily now
Bulls are watching an hourly inverse head and shoulders pattern to give confirmation that $20.53 is our new daily higher low, after defending this level on four different days in the past couple of weeks.
CRON has lost the daily higher low pattern and resides in an hourly bear flag setup. If we get an aggressive push down tomorrow I'll start scouting for the potential of an hourly oversold bounce. In my opinion CRON is the reason the restof the sector had lacklustre continuation on their bounces from Friday
CRON hourly chart is a tightening range as bulls wait for the rest of the sector and the market to get it s bounce underway. Bulls are holding up very well and are well positioned for a move back to test our only two daily resistances if the market and the rest of the sector get a bounce going
CRON bulls hav e een happy the past few weeks but Friday's new All time high had little followthrough and should leave bulls cautious after a 70% bounce. Watch for Friday's low to hold, the break of which would signal consolidation is underway and bulls would then look to form a higher low and have another attempt at resistance.