If CRV manages to show support on the trend line thinks could be looking very bullish for CRV.
- On the daily MACD you can see that we are very close to a bearish cross and are set up for a pullback
- RSI shows us a bullish divergence, this means less overbought at the same prices
- The trendline support area is set up between the 0.5 and 0.618 of the fib which is known as a good area for a bounce (cant see this very well on this chart)
If the ascending triangle would break out to the upside there would be a very big resistance around 4.4 based on 2 strong fibonacci retracements
Price targets:
For me there are 2 main price targets:
20% at 3.41 if the trend line gets respected and bullish momentum shows
36% at 4.428 if the ascending triangle breaks out
NOTICE: These price targets are at exact levels and I would recommend taking profits mildly lower.
- On the daily MACD you can see that we are very close to a bearish cross and are set up for a pullback
- RSI shows us a bullish divergence, this means less overbought at the same prices
- The trendline support area is set up between the 0.5 and 0.618 of the fib which is known as a good area for a bounce (cant see this very well on this chart)
If the ascending triangle would break out to the upside there would be a very big resistance around 4.4 based on 2 strong fibonacci retracements
Price targets:
For me there are 2 main price targets:
20% at 3.41 if the trend line gets respected and bullish momentum shows
36% at 4.428 if the ascending triangle breaks out
NOTICE: These price targets are at exact levels and I would recommend taking profits mildly lower.
Note
Just as predicted
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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.
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.