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Substratum Update!! Going down or going up!??
Hello Traders,
As you may know, I am a big fan of Substratum decentralized web, but they have not performed well after their twitter account was hacked.
Looking at the 4 hour chart, we see that Substratum is forming bullish pennant pattern. Currently, it is at 78.6% fibonacci level, and breakout from this pennant is a very bullish sign for substratum and the target is 11000 Satoshi (roughly 100% profit). RSI is at oversold region so I expect bull to defend this level.
However, we see this somewhat tilted head and shoulders pattern is forming within this pennant pole. Breaking this neckline will most likely send us to 3900 satoshi.
If you want to enter long position, please wait until the breakout from the down trendline. (this drop is most likely due to the fact that Tron is getting most of the attention right now). After the Tron's mainnet release, we should see a good uptrend.
As you may know, I am a big fan of Substratum decentralized web, but they have not performed well after their twitter account was hacked.
Looking at the 4 hour chart, we see that Substratum is forming bullish pennant pattern. Currently, it is at 78.6% fibonacci level, and breakout from this pennant is a very bullish sign for substratum and the target is 11000 Satoshi (roughly 100% profit). RSI is at oversold region so I expect bull to defend this level.
However, we see this somewhat tilted head and shoulders pattern is forming within this pennant pole. Breaking this neckline will most likely send us to 3900 satoshi.
If you want to enter long position, please wait until the breakout from the down trendline. (this drop is most likely due to the fact that Tron is getting most of the attention right now). After the Tron's mainnet release, we should see a good uptrend.
Ghi chú
Looks like my head and shoulders pattern is taking place. Still no sign of trend reversal signal...Giao dịch đang hoạt động
Subbtc pair is entering the inverse head and shoulders target.Giao dịch đang hoạt động
Triggered my buying order :)
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.