Short update!
CRO is in a very good phase of consolidation and is the best area, according to my idea, for a buy entry (I did this at a price of $ 0.67).
The chart (1D and 4H) proposes a descending Bull wedge in the price compression phase and this means that the more the price moves towards the end of this wedge, the more expansive its strength will be.
In the 4-hour chart, the Intermediate Cluster has been successful so far and has acted as a support and has been retested multiple times making it a major support between $ 0.65 and $ 0.67.
I propose this subtlety!
Notice how the RSI in the daily chart is diverging to the downside despite the price bouncing higher and higher, this means that the threshold of around $ 0.65 is becoming a totally bearable price for the market and is consolidating.
I believe that once the wedge is broken, the next resistance is 0.80 cents.
What do you think?
CRO is in a very good phase of consolidation and is the best area, according to my idea, for a buy entry (I did this at a price of $ 0.67).
The chart (1D and 4H) proposes a descending Bull wedge in the price compression phase and this means that the more the price moves towards the end of this wedge, the more expansive its strength will be.
In the 4-hour chart, the Intermediate Cluster has been successful so far and has acted as a support and has been retested multiple times making it a major support between $ 0.65 and $ 0.67.
I propose this subtlety!
Notice how the RSI in the daily chart is diverging to the downside despite the price bouncing higher and higher, this means that the threshold of around $ 0.65 is becoming a totally bearable price for the market and is consolidating.
I believe that once the wedge is broken, the next resistance is 0.80 cents.
What do you think?
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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.