CRV USDT 08-10-2022 Technical Analysis
We can predict that prices will drop to 0.860 during the day. No matter which way we look at it, you can see more than one bearish pattern in the hourly time frame. I expect that in the short time frame prices may be in the range of 0.870 and 0.820.
When we extend the time span a little more, we can predict that this decline is a precursor of an increase. Because instead of the descending triangle, the descending wedge formation can be seen in the graph as 4H.
Things get a bit messy in the daily time frame. If we accept that the truth is the large time frame, we can accept the measurement we make in the daily time frame as a more accurate measurement.
If we expect the D leg of the harmonic pattern to be completed to match the levels of 1.618 Fibonacci, prices may drop to 0.790.
When we examine the graphic pattern of the region in which current prices are located, we see a descending triangle. If we calculate the depth of this triangle, we can predict that prices will remain in the range of 0.790-0.750.
When you follow the downward trend within the Fibonacci channel, you can actually see that prices are close to recovery.
The regression channel seems to have been crossed.
In short, I expect the prices to move a bit down first. Then its upward movement will begin.
Note: this is not investment advice.
When we extend the time span a little more, we can predict that this decline is a precursor of an increase. Because instead of the descending triangle, the descending wedge formation can be seen in the graph as 4H.
Things get a bit messy in the daily time frame. If we accept that the truth is the large time frame, we can accept the measurement we make in the daily time frame as a more accurate measurement.
If we expect the D leg of the harmonic pattern to be completed to match the levels of 1.618 Fibonacci, prices may drop to 0.790.
When we examine the graphic pattern of the region in which current prices are located, we see a descending triangle. If we calculate the depth of this triangle, we can predict that prices will remain in the range of 0.790-0.750.
When you follow the downward trend within the Fibonacci channel, you can actually see that prices are close to recovery.
The regression channel seems to have been crossed.
In short, I expect the prices to move a bit down first. Then its upward movement will begin.
Note: this is not investment advice.
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