Moonriver | Clear Reversal Signals —207% High Probability TargetThis is a very nice looking chart and the structure is quite solid. This type of chart setup gives me confidence of a bullish wave following next; let's look into it.
Moonriver (MOVRBTC) produced a higher low, long-term, in August 2024 compared to October 2023. At the same time we have the rounded bottom pattern and a move above local resistance. The local resistance is shown with a grey line. This same pattern happened last year preceding a strong bullish wave.
The current action, short-term, is also bullish as we see slow and steady growth. This tends to lead to strong bullish breakouts.
The fact that we have a higher low can lead to a higher high but this would take longer than just a few days. The whole chart is solid because there were some strong shakeouts before reaching this point. Since all weak hands were removed, in one way or the other, this opens up the doors for the next move which in this case is growth.
This is another one that looks good for a double-up. Patience is the most important part, because we tend to become glued to the screen hoping for prices to grow. Normally, it doesn't move within days, it takes months.
I am wishing you success.
It doesn't matter if it doesn't go right this time around, we will have many more opportunities to gain experience and try again, again and again. But if you buy and hold, the market takes care of the rest.
Namaste.
