Potential W pattern.
We still are in the rally.
MACD cross.
Long trade opportunity:
-Entry=16.2
-Profit target=20.8
-Stop Loss=14.9
If we break the black line resistance, we should see strong buy to confirm the pattern.
We still are in the rally.
MACD cross.
Long trade opportunity:
-Entry=16.2
-Profit target=20.8
-Stop Loss=14.9
If we break the black line resistance, we should see strong buy to confirm the pattern.
Trade active
16.2 act as a supportNote
Bullflag pattern forming, the same as Bitcoin.
RSI shows bearish divergence on the hour-chart, that could lead to a fail of the W pattern.
Conclusion : if the bull flag breaks down and fail, then we would retest blue channel support and the principal maroon trend line of the rally.
Note
We failed one breakout because of small volumes. Now we see a breakout on the 4-hour chart, but we need a clear increase of volume to confirm the pattern.
Note
Pattern confirmed.
16.060 support broken with a green candle with great volume.
W pattern seemed to be confirmed, bulls would buy more soon.
Profit target : 20.8 but you could put another one smaller to save profits.
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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.