The price broke down from symmetrical triangle and is resting on support around 42.
For the bulls, the hope is that $42 - $38 holds and price bounce back above $52 area.
Bears would want to see a break down below $38. Bears also think the chart looks Head and shoulder which I do not agree.
Triangles frequently do see single bust pattern where the price briefly breaks down and then reverses to break out of the triangle.
Target 1 - $52
Target 2 - $58.32
Target 3 - $64
Target 4 - $88
Risk - break below $38 and worst case $27.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
For the bulls, the hope is that $42 - $38 holds and price bounce back above $52 area.
Bears would want to see a break down below $38. Bears also think the chart looks Head and shoulder which I do not agree.
Triangles frequently do see single bust pattern where the price briefly breaks down and then reverses to break out of the triangle.
Target 1 - $52
Target 2 - $58.32
Target 3 - $64
Target 4 - $88
Risk - break below $38 and worst case $27.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.