From this analysis, we could see the support level rejecting the current candle from breaking down. A trend line across the price previous wick which makes it form a triangle of a end point to the lower corner. A break out to test 50% on the previous highest high candle stick wick in day one of the listing (on Kucoin, where I got the chart history from).
Hello friends ,
In my opinion, if the price moves towards the price ceiling this time, the resistance will be broken, usually when the price has not been broken three times, the price will be broken for the fourth time.
Anyway, the ratio of loss limit to profit limit is appropriate.
Observe the loss limit to have a successful trade...
Also, pay attention to this...
Exchange : Kucoin
| Technical Analysis 1H Chart:
Cup and Handle
The 4H SRSI is oversold below 20
The 1H SRSI is oversold below 20
MACD showing a lack of bearish momentum
Volume Falling with Price, indicating the sellers are getting loosing strength
RSI Bullish Pattern