CRV has had a particularly brutal life up to this point. Buyers have lost quite a bit betting on this coin. Altcoins are a gamble and being wrong about your entry is particularly unforgiving compared to more generic assets. However, if you pay attention to the patterns, ignore the FOMO and look for trends, the picture becomes more clear. In this case, we seem to have just formed the left shoulder of an inverted head and shoulders pattern, inside a larger head and shoulders pattern. Assuming Bitcoin doesn't blow up this pattern, look for a rounding formation at the bottom of this falling wedge around $1.05-$1.07, with potential for a wick down to sub $1.00 (this would be a psychological target and would make a ton of sense). Assuming this plays out, this looks like it should play out with the bottom hitting around 9/19 or 9/20, with a confirmation of the uptrend around a day or two later.If you want to gamble - Set your bids at a $1.00
If you want confirmation for entry - Wait for the break out of the falling wedge and wait for a retest (The right shoulder of the inverted head and shoulders pattern would be the retest
Not financial advice, just a cheat sheet for people wanting to fill their moon bag. Happy trading.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.