CSPR is forming a bull pennant on the 4H timeframe and is on the verge of break out.
After recently breaking out of a falling wedge on the daily chart, we're now seeing a second bullish continuation pattern develop, making the overall structure for CSPR appear very bullish.
The last time CSPR broke out of a falling wedge on the daily timeframe, the price surged over 180%.
That move was followed by a sharp pullback with long wicks, eventually forming a new falling wedge.
Given CSPR’s history of short but explosive moves (high volatility), it’s advisable to use a tight TP when trading this setup.
I’m anticipating another potential rejection near the $0.026 zone which could still offer upside potential of around 125%.
For a more conservative approach, you could aim for the upper boundary of the wedge, which currently sits around $0.019.
Let’s reach the summit together!
📝 Note
I'm currently building a portfolio of crypto analyses here on TradingView. Your feedback, tips, or validation are greatly appreciated, especially as I continue developing this skill further!
After recently breaking out of a falling wedge on the daily chart, we're now seeing a second bullish continuation pattern develop, making the overall structure for CSPR appear very bullish.
The last time CSPR broke out of a falling wedge on the daily timeframe, the price surged over 180%.
That move was followed by a sharp pullback with long wicks, eventually forming a new falling wedge.
Given CSPR’s history of short but explosive moves (high volatility), it’s advisable to use a tight TP when trading this setup.
I’m anticipating another potential rejection near the $0.026 zone which could still offer upside potential of around 125%.
For a more conservative approach, you could aim for the upper boundary of the wedge, which currently sits around $0.019.
Let’s reach the summit together!
📝 Note
I'm currently building a portfolio of crypto analyses here on TradingView. Your feedback, tips, or validation are greatly appreciated, especially as I continue developing this skill further!
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.
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.