FARTCOIN INVERSE H&S ??
A clear head and shoulder pattern seems to be forming around a key HTF S/R Level. It is my belief that we are currently at the "right shoulder" which is level with "left shoulder" and notably higher than the "head".
Should price climb back above the KEY S/R and above the 1H 200 EMA level (purple MA) that would mark a series of higher lows from the head onwards and a clear move up to the neckline. Should price clear the neckline I could see a mirrored price move of the way down going the other way working towards the bearish orderblock.
Now like with all altcoins currently, this move does rely on BTC making a similar bullish move, if bitcoin were to roll over and go sub $91,000 then FARTCOIN and others will continue the bearish trend as shown in the chart.
As always these are just my thoughts and could very well be wrong, if so it's best to have a plan in place and proper risk management.
Should price climb back above the KEY S/R and above the 1H 200 EMA level (purple MA) that would mark a series of higher lows from the head onwards and a clear move up to the neckline. Should price clear the neckline I could see a mirrored price move of the way down going the other way working towards the bearish orderblock.
Now like with all altcoins currently, this move does rely on BTC making a similar bullish move, if bitcoin were to roll over and go sub $91,000 then FARTCOIN and others will continue the bearish trend as shown in the chart.
As always these are just my thoughts and could very well be wrong, if so it's best to have a plan in place and proper risk management.
註釋
Rejection off the KEY S/R level for now, the key level & 1H 200 EMA to much resistance without a BTC rally.
Lets see what happens today.
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