Hi dear friends and followers, I suspect this inverted head and shoulders pattern with a neckline around 160 usd. If it breaks in, it can go down toward the inferior support level around 130 usd and the 0.618 Fibo. If it breaks out it can go up until the next resistance and psychological level of 200 usd. As you can see, this 200usd resistance level does match with a large ascending channel.
You all need to DYOR and keep an eye on RSI and volume to confirm the movement and take a trade.
Wishing you the best and success on your decision.
You all need to DYOR and keep an eye on RSI and volume to confirm the movement and take a trade.
Wishing you the best and success on your decision.
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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.