There was an inverse head and shoulders pattern which resulted in the breakout of the neckline. That provided a 300% growth roughly. Then the price retraced all the way back to the previous resistance line now turned support. Retested it and held so far.
Expecting a little more sideways/accumulation at these levels. If it holds then we will retest the previous high, and have 2 possibilities
1) breakout
2) formation of another smaller cup, with a proper big Timeframe ascending triangle which could propel the price to ath.
Expecting a little more sideways/accumulation at these levels. If it holds then we will retest the previous high, and have 2 possibilities
1) breakout
2) formation of another smaller cup, with a proper big Timeframe ascending triangle which could propel the price to ath.
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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.