A Head & Shoulders (H&S) pattern is potentially forming on the ATOM/USDT daily chart, signaling a bearish reversal if confirmed.
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Pattern Structure
1. Left Shoulder:
- Top: 7.0 USDT
- Bottom: Around 5.8 USDT
2. Head:
- Top Wick: 7.8 USDT
- Bottom: 5.9 USDT
3. Right Shoulder (forming):
- Potential Top: Around 7.0...
There seems to be a symmetrical triangle forming on on the ETHUSDT pair on the 1D Chart.
Potential Long Setup:
Entry: ~3500 (Wait for 1D Candle to close above the triangle and with good volume for confirmation)
Target Price (TP) 1: ~3850 ( Around the previous lower high's and below the previous resistance before the price drop)
Target Price (TP) 2: ~4000...
Observations:
Double Top Formation: A bearish reversal pattern, indicating potential for price to move downward.
Resistance Level: Around $0.015047, marked in red.
Support Level: Around $0.014675, marked in green.
Downward Momentum: Price broke below the neckline (support level) of the double top.
Volume Confirmation: Increasing sell volume...
