I believe the technical analysis and patterns illustrated on the chart are clear to the trained eye. this is not a signal nor anything like that. I just wanted to share my insight here and I would appreciate any opinion from you folks. Thank You :)
As you can see the 4H channel is broken from the top so we expect an upward move BUT this upward move is not limited to the 4H chart and I'm going to explain why...
The green line is a valid weekly and valid resistance which USDT has been struggling with for quite a long time. today the candle will close and it's highly likely to close above. Combined with...
We have a pretty big H&S pattern here on the daily and neckline is broken. We expect an approximate drop of 60% in the long term. We also have a bearish RD on the weekly that supports the idea.
Let's see what happens...
What happened is that the triangle successfully got broken and now we expect a pullback in the following 1 or 2 days. but then we expect to have a more powerful drop from the zone. however the pullback could reverse half-way so any long strategy wields a great risk. keep your keen eyes open for short opportunities in the market!
