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Price formed a Head and Shoulders pattern. In case there is a breakout of the support trendline or better of the Ichi Cloud support zone the price will go down (possible retest the 200 MA).
Nevertheless we are sitting on the 50 MA support and there is also an ascending broadening wedge pattern, which can work out if there is an upward breakout of the formation.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Price formed a Head and Shoulders pattern. In case there is a breakout of the support trendline or better of the Ichi Cloud support zone the price will go down (possible retest the 200 MA).
Nevertheless we are sitting on the 50 MA support and there is also an ascending broadening wedge pattern, which can work out if there is an upward breakout of the formation.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.