SCUSD Weekly Long
SCUSD is currently within a symmetrical triangle on the weekly chart. I would expect a break out from this pattern within the next few weeks. With this being the weekly chart, this will move fairly slow for crypto standards. However, because it is on the weekly scale, an upward break could see returns of up to 200-250%. Weekly EMA 20 is acting as major support for SCUSD. With that being said, a retest of support is likely. A clear break down from the current chart pattern would be grounds for a stop loss within personal risk tolerance. Lower blue channel line can potentially be used for entry points as well as prices below the EMA 20. Fib retrace included to indicate potential take profit areas. Blue lines indicate current chart pattern with upper and lower boundaries. Thick red line indicates weekly EMA 20. Red line indicates major overhead resistance. This is not financial advice, trade wisely and use your own due diligence.
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