After it failed to form an inverse H&S, we can see an descending triangle pattern formed. At this point we will look for a break of the resistance or support line and a retest of the line broken to see if it has been confirmed as new resistance/support. On the RSI there is a hidden bullish divergence and the macd has crossed. The project delayed the mainnet release, but when they announce a new date of the release I am leaning more to a bullish break.
PS:Still have to watch bitcoins movement to be convinced of a bullish move.
PS:Still have to watch bitcoins movement to be convinced of a bullish move.
Note
Note
Decision will be most likely within 2 weeks max. At the moment im more inclined for a bullish breakout because of FA and it is sitting at a very strong support but we will have to wait and seeNote
Moving smoothly at the moment right now testing what was once resistance as support. I suspect we'll fly past the 0.5 fib but then meet very strong resistance at the 0.382 fib. After the 0.382 fib the 0.236 fib will likely prove as weak resistance, and our ultimate goal with be the 0 fib line. With a meetup on the 15th and likely to announce a new date for the testnet we should be bullish in the coming weeks.
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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.