Analysis: A head-and-shoulders pattern is emerging on the 1-hour chart, with the neckline at $0.0005000. The price at $0.000527 is testing the right shoulder, and a break below the neckline could target $0.0004400, a prior demand zone. MACD is crossing bearish, and volume is thinning on upticks, signaling weak bullish conviction.
Key Levels:
Entry: $0.0005000 (on break)
Stop Loss: $0.0005400
Target: $0.0004400 (12% downside)
Risk/Reward: 2:1
Confirm the pattern completion before entering.
Key Levels:
Entry: $0.0005000 (on break)
Stop Loss: $0.0005400
Target: $0.0004400 (12% downside)
Risk/Reward: 2:1
Confirm the pattern completion before entering.
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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.