AION/BTC Forming Inverted Head & Shoulders
Updated
BINANCE:AIONBTC seems to be in the process of printing an inverted Head & Shoulders. A potential move up is confirmed by rising price strength (RSI) and increasing volume (OBV), both diverging from actual price. ROI could easily be 100% from current support level. Buying a breakout of the neckline could yield a 40% return.
This information is not trading advice, but for educational purposes only.
This information is not trading advice, but for educational purposes only.
Note
Rough day for the alts! But although our set-up looks a bit less attractive at the moment—price having dipped below the green support line—it's still valid. AION actually has been keeping up quite well today compared to many other alts. The buy side in the order book seems pretty good supported. If not in yet, I would wait for more upwards confirmation at this point though. Today's candle closing above the green support line would already be a first positive sign.
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