In this chart,
CRVUSDT
is forming a cup and handle pattern from an intraday perspective. The pattern is suggesting a bullish move for the coin from its past downtrend movements. I'll provide more updates on this thread below. Happy trading!
CRVUSDT
is forming a cup and handle pattern from an intraday perspective. The pattern is suggesting a bullish move for the coin from its past downtrend movements. I'll provide more updates on this thread below. Happy trading!
Comment:
Currently, the price is on the neckline area, so I'll be waiting to see if it halts at the neckline or at the .382 Fibonacci level ($0.5103). I also would like to suggest addinfg a diagonal trendline to be the key support for now because given that the bias is still bear as major coins are correlatedly moving with BTC.
Comment:
Additionally, if it breaks the Fib level, I'll be priced in for the coin and label the next Fib level at $0.5164 as the potential take profit area.
For the bigger picture for CRV, I plotted a monthly diagonal resistance showing the trendlines' firmness.
For the bigger picture for CRV, I plotted a monthly diagonal resistance showing the trendlines' firmness.
Comment:
The Adam and Eve pattern has been invalidated due to the rejection of the plotted neckline.
Things to keep in check for CRV:
1.) Consider $0.5082 price line or the neckline of the pattern shows conviction from invalidating the Adam Eve pattern.
2.) In the hourly chart for CRV, we have a strong diagonal resistance from last year. This could lead to a massive move if a breakout happens.
Things to keep in check for CRV:
1.) Consider $0.5082 price line or the neckline of the pattern shows conviction from invalidating the Adam Eve pattern.
2.) In the hourly chart for CRV, we have a strong diagonal resistance from last year. This could lead to a massive move if a breakout happens.
Comment:
Utilize Logarithmic option for the charts :)
