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Fantom / TetherUS

just an IDEA !!!!!!

By amirh-gh
Updated
In the zoomed-out view on the 1D and 4H charts, we are in an upward channel. On the 1D chart, we have already hit the middle line, which is acting as resistance. Same Within this channel in 4H, we were in a range area that we broke out of on the upside. I believe we have already hit the target of this range area, which is exactly at the middle line of the 1D uptrend channel. Now, based on the RSI and a small support line, I think it is possible to form a small head and shoulders pattern. If this pattern forms, we could follow its target to go back down, aligning with the Fibonacci retracement levels of 50-61.8%. This would bring us back to our support line, where we can then observe how the price reacts.
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We hit the Fibonacci retracement levels of 50-61.8%. The initial reaction was positive, but it is still not safe to say the correction is complete. It is possible for the price to see levels between 0.68 and 0.73.
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"We are in a small range area again . We need to close above 0.8454 to see if it decides to go up, or close under 0.7494 to go down. We need more movement; nothing has really happened here yet."
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We're in a small range area THAT I MENTIONED BEFORE . To determine the direction, we need to close above 0.8454 for an upward move or below 0.7494 for a downward one. We're still waiting for more significant movement; nothing substantial has occurred yet.
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Following the path, we made a good bounce from here and hopefully, it could continue. but main thing is we need to close above 0.8454 for an upward move
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This is a boring range area in this time frame, making everyone tired. We need a break. The main thing is we need to close above 0.8454 and stabilize above it for an upward move to get to 0.9622, which is the top of our bigger range box.
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Chart PatternsTrend Analysis
amirh-gh

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