Cosmos Perpetual Futures 4H Chart: Bear/Bull Thesis
BEAR:
Currently trading at bottom of ATH channel. We have a support band that has called buyers multiple times (showing candles with long wicks at the bottom resenting buyers showing up and rejecting support price). If candle closes below support band for first time within the channel, price might fill the gap down to previous channel. Further, price might find slight consolidation at new channel before continuing to next channel below, that has previously shown stronger balance between buyers and sellers
BULL:
If current bearish candle finds buyers support and closes above support band, while next candle closes above current candle, we might see the creation of a double bottom pattern that could bring price back to top or middle of current channel.
Currently trading at bottom of ATH channel. We have a support band that has called buyers multiple times (showing candles with long wicks at the bottom resenting buyers showing up and rejecting support price). If candle closes below support band for first time within the channel, price might fill the gap down to previous channel. Further, price might find slight consolidation at new channel before continuing to next channel below, that has previously shown stronger balance between buyers and sellers
BULL:
If current bearish candle finds buyers support and closes above support band, while next candle closes above current candle, we might see the creation of a double bottom pattern that could bring price back to top or middle of current channel.