Looks like its forming an angled cup and handle (satisfies both handle price and duration relative to cup). Broken down trend area and formed a daily uptrend thats held. 4hr 200 and 50 ema about to cross. Bullish divergence on the 4 hr rsi and crossing macd. Forming a symmetrical triangle between daily uptrend and 4 hour downtrend. looks prime to break up out of this triange given the current considerations. The last drive to the bottom of the triangle didnt make it there indicating increased bullish support. I suspect it will run to the top of the triangle again and depending on overall market sentiment it may make a break. Given the current crypto climate we may not see the expected length of break if it does break
Note
As expected ran to top of triangle and is now finding resistance. I entered a position when i posted this and collected at resistance, now looking for breakout confirmation
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.