Hi guys,
I have been overlooking the Cronos chart quite recently, and I have to admit that this is one of the most beautiful charts i have looked into, according to respecting simple geometry.
We can see that currently Cronos is both testing the border of the triangle on the outside and as well trying to establish a higher low and support above the previous lower high. If this plays out, a double bottom od W pattern will be confirmed which would send Cronos to its next ressistance levels at 0.54. After that resistance is broken the next target is 0.68, and finally the previous ATH.
In case Cronos losses support and cannot establish a confirmation outside the triangle and above the W neckline, we will be testing the prices of 0.4, and furthermore 0.35 according to the support made around that price.
Trade responsively.
This is an observation and opinion, not advice.
Cheers!
I have been overlooking the Cronos chart quite recently, and I have to admit that this is one of the most beautiful charts i have looked into, according to respecting simple geometry.
We can see that currently Cronos is both testing the border of the triangle on the outside and as well trying to establish a higher low and support above the previous lower high. If this plays out, a double bottom od W pattern will be confirmed which would send Cronos to its next ressistance levels at 0.54. After that resistance is broken the next target is 0.68, and finally the previous ATH.
In case Cronos losses support and cannot establish a confirmation outside the triangle and above the W neckline, we will be testing the prices of 0.4, and furthermore 0.35 according to the support made around that price.
Trade responsively.
This is an observation and opinion, not advice.
Cheers!