XMR Symmetrical Triangle Pattern
Updated
Watching for a breakout from a Symmetrical Triangle Pattern on the hourly chart, could indicate price movement direction. TD Sequential shows the end of a 1-4 bearish pullback on the 4H chart indicating a buy opportunity, although the daily chart signifies day 2 of bearish downtrend after a recent bearish 9 count. Upper target is above $120 and lower target is $72.
Note
Price movement broke out of the bottom signalling bearish movement. So far we have reached half way to the estimated low, with the TDSequential showing day 4 of a possible 9 count which could even take us below $72. Most of the crypto markets seem to be closely following BTC at the moment rather than providing an opportunity to avoid this current volatility.
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.