AnkrUpdated (ANKR-USD) Will Fall be a Summer repeat for ANKR?
At the beginning of August ANKR went on a 10-day parabolic run after spring-boarding off it's base trend line (Green Line) and it's local-floor support (first Dashed Line), smashing thru the overhead resistance (first Red Line).
Approaching a month later since the end of it's parabolic run and a very similar picture appears. The Base trend-line still intact, with price-action heading back to it's local-floor support there's a good chance that once again this acts as a spring-board that will smash thru the newest overhead resistance trend line (second Red Line).
Approaching a month later since the end of it's parabolic run and a very similar picture appears. The Base trend-line still intact, with price-action heading back to it's local-floor support there's a good chance that once again this acts as a spring-board that will smash thru the newest overhead resistance trend line (second Red Line).
Note
With the base trend line broken I would suspect to see a retesting around the 0.0044 levels.Will need another solid month of price action to confirm but there is concern of a multiple month H&S pattern forming here on the daily chart. If a right shoulder were to form over the next month I'd steer clear in-case of a big shake out.
Billi
Billi
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.