Hey cryptomaniacs,
what I see is a good opportunity if this scenario continues the way I expect it if this is going to be traded as the "schoolbook" of Chartpatterns explains.
We had a strong momentum and were about to build a double-top in the daily-chart and hit that ATH soon.
That didn`t work out but still shows the market is ready to climb due the declining volumen since we`ve decided to consolidate and create this beautiful Wedge-Pattern.
Support and resistance of this pattern got confirmed by "Fakeouts" and Buy&Sell-orders. The declining volume shows that the market "takes the chips off the table" to wait for a breakout and retracement to find a nice buy-opportunity.
Important:
The DAILY-CHART shows an UP-Trend including 5 Waves and headed to the consolidation Wave-Pattern A/B/C. After that we`ve decided to continue the trend and just builded the second wave (correction) which has stopped at a very important support zone (50% retracement). I don`t know how to add a second picture with the daily-chart. It shows that this breakout could create a longterm LONG-Move and this UP-Trend to break ATH if we don`t build that double-TOP.
The journey could end at the top of the last momentum if that third wave (Breakout) end at the same level of wave 1.
Let`s see what happens.. :-)
Peace and nice trades everyone
what I see is a good opportunity if this scenario continues the way I expect it if this is going to be traded as the "schoolbook" of Chartpatterns explains.
We had a strong momentum and were about to build a double-top in the daily-chart and hit that ATH soon.
That didn`t work out but still shows the market is ready to climb due the declining volumen since we`ve decided to consolidate and create this beautiful Wedge-Pattern.
Support and resistance of this pattern got confirmed by "Fakeouts" and Buy&Sell-orders. The declining volume shows that the market "takes the chips off the table" to wait for a breakout and retracement to find a nice buy-opportunity.
Important:
The DAILY-CHART shows an UP-Trend including 5 Waves and headed to the consolidation Wave-Pattern A/B/C. After that we`ve decided to continue the trend and just builded the second wave (correction) which has stopped at a very important support zone (50% retracement). I don`t know how to add a second picture with the daily-chart. It shows that this breakout could create a longterm LONG-Move and this UP-Trend to break ATH if we don`t build that double-TOP.
The journey could end at the top of the last momentum if that third wave (Breakout) end at the same level of wave 1.
Let`s see what happens.. :-)
Peace and nice trades everyone