We can see a possible cup and handle forming on XTZ/USDT.
The measured move, if it plays out, would take the price up to 6.00!!
There is also a small inverse head and shoulders playing out within the handle on a lower Time Frame, I will engage with a small stake and risk at confirmation of the right shoulder playing out I will place a larger order at confirmation of the breakout of the handle.
If you enter on the breakout of the neckline, be aware it could retest the neckline before taking off, or even throw back!
The measured move, if it plays out, would take the price up to 6.00!!
There is also a small inverse head and shoulders playing out within the handle on a lower Time Frame, I will engage with a small stake and risk at confirmation of the right shoulder playing out I will place a larger order at confirmation of the breakout of the handle.
If you enter on the breakout of the neckline, be aware it could retest the neckline before taking off, or even throw back!
Comment:
Small stop reached on the Inverse Head and Shoulders pattern, we wait to see what happens with the cup and handle