A quick one - potentially one that could send us flying (even above the TP-levels). A clear W-pattern forming for RSR.
TP levels:
-> 0.004847
-> 0.005101
-> 0.005454
Look like $AVAX is creating a double bottom on the daily candles.A double bottom, also known as a W-Pattern (for its W-shape), is a bullishly biased pattern.
The target of a W-pattern breakout is as big as the pattern itself. My TP for this pattern is $26,23 (Looking at the past, this is also an important resistance zone for $AVAX).
All still depends on what...
A little extra info from my last post. Same narrative, same resistance line, only a pattern is spotted.
This inverse H&S is very likely the reason EGLD will push to the levels mentioned in my previous post. Inverse H&S is the same as a regular H&S, only an inverse H&S breaks bullish, not bearish.
Will update if the pattern gets invalidated, don't expect it to though.
I expect btc to break this wedge to the upside. It could potentially also blast us above $25200.
Descending broadening wedge is a bullishly biased pattern.
There is a descending resistance line on the weekly. Descending resistance pretty much always breaks to the upside.
$63,87 -> Should be the easiest to break. You can take small profits here but honestly, it would be a waste. Personally think we will break through this, but it still a heavy point of resistance on EGLD. Thats why im mentioning it.
$74,34 -> A...
Yes, we already broke the channel once, but that was due to news ->"AMAZON + Tdoc partnership". This is the first time we break the channel organically.