In this chart, 
CRVUSDT is forming a cup and handle pattern from an intraday perspective. The pattern is suggesting a bullish move for the coin from its past downtrend movements. I'll provide more updates on this thread below. Happy trading!
CRVUSDT is forming a cup and handle pattern from an intraday perspective. The pattern is suggesting a bullish move for the coin from its past downtrend movements. I'll provide more updates on this thread below. Happy trading!Note
Currently, the price is on the neckline area, so I'll be waiting to see if it halts at the neckline or at the .382 Fibonacci level ($0.5103). I also would like to suggest addinfg a diagonal trendline to be the key support for now because given that the bias is still bear as major coins are correlatedly moving with BTC.Note
Additionally, if it breaks the Fib level, I'll be priced in for the coin and label the next Fib level at $0.5164 as the potential take profit area. For the bigger picture for CRV, I plotted a monthly diagonal resistance showing the trendlines' firmness.
Note
The Adam and Eve pattern has been invalidated due to the rejection of the plotted neckline. Things to keep in check for CRV:
1.) Consider $0.5082 price line or the neckline of the pattern shows conviction from invalidating the Adam Eve pattern.
2.) In the hourly chart for CRV, we have a strong diagonal resistance from last year. This could lead to a massive move if a breakout happens.
Note
Utilize Logarithmic option for the charts :)
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Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.