Honestly the Head and Shoulders Pattern was already indicating a major move to the downside and in combination of the Breakout of the Ascending Channel it was even more obvious.
I believe we are going to reach Support levels of 0.21 and most likely bounce from there.
We will face three major Trendlines acting as Resistance. If we can break it I expect fast growth to 0.25 and 0.32.
We have been moving in this Ascending Triangle for quite a while now and it seems like we are coming to an end.
Please keep in mind this is just me sharing my thought process. Please educate yourself and get your own understanding of what's happening. I'm not a financial advisor.
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.