Potential Inverse H&S for Cardano
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4H - ADA/USDT - Binance
Cardano is setting up well for a potential inverse h&S. The neckline has been strong resistance, thwarting six candles so far. Yet if this pattern prints, it could mark the 7th or 8th attempt at breaking through $.34. Bbands are starting to neck down for a consolidation within the potential RS. I'm looking for an uptick in volume upon approach to the neckline, then a candle close above $.34 for confirmation. Given the way things have ran recently, I wouldn't be surprised to see the neckline get obliterated and a rally to around $.385 (weak resistance) within a week.
I've been playing with this chart and wanted to share. This post is not investing advice and cryptocurrency trading is high risk.
Cardano is setting up well for a potential inverse h&S. The neckline has been strong resistance, thwarting six candles so far. Yet if this pattern prints, it could mark the 7th or 8th attempt at breaking through $.34. Bbands are starting to neck down for a consolidation within the potential RS. I'm looking for an uptick in volume upon approach to the neckline, then a candle close above $.34 for confirmation. Given the way things have ran recently, I wouldn't be surprised to see the neckline get obliterated and a rally to around $.385 (weak resistance) within a week.
I've been playing with this chart and wanted to share. This post is not investing advice and cryptocurrency trading is high risk.
Giao dịch đang hoạt động
RS materialized much quicker than I thought. First retest of the neckline was swiftly denied, monitoring the current chop to find an additional entry point for the rebound attempt.Ghi chú
Wen moonĐóng lệnh: đạt mục tiêu
5 days, 35% gain in price.
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