FUNUSDT 4H is finishing formation of descending triangle
Updated
FUNUSDT 4H is reaching a tip of formation triangle.
Although Descending Triangle often leads to Breakthrough Down, in current case RSI is entering +50 zone, which can mark a beginning of an uptrend.
BUY ZONE: 0.038-0.042
STOP LOSS: 0.036-0.033
NEXT RESISTANCES: 0.0465, 0.051/0.055-0.058
POTENTIAL: Repetition of Previous 0.005 to 0.057 Surge, so 0.04 to 0.4
Happy Trading
Although Descending Triangle often leads to Breakthrough Down, in current case RSI is entering +50 zone, which can mark a beginning of an uptrend.
BUY ZONE: 0.038-0.042
STOP LOSS: 0.036-0.033
NEXT RESISTANCES: 0.0465, 0.051/0.055-0.058
POTENTIAL: Repetition of Previous 0.005 to 0.057 Surge, so 0.04 to 0.4
Happy Trading
Comment
The trend has left Descending Triangle and instead entered Descending Channel. With current RSI being below 50, it indicates continuation of Downtrend in 4h Charts until Consolidation is Complete and Breakthrough happens.
Trade active
Bought in at 0.039
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