ANKR Recovery update
Not an Advisor.
So the Crypto Market collapse has brought about a few detours, but we are recovering just fine for the time being. We just saw a reversal candle on the daily, looking for it to confirm on the next candle closing. I have two pitchforks, one with an inside fork which is set up with a green median to showcase support lines. The original pitchfork has a red median to showcase a resistance line. I laid out a path trajectory I feel like may be a possible play for ANKR. We could go up and test the 21MA and backtest, but come back to test the pitchfork line. Potentially continuing to bounce upward in the pitchfork channel till a breakout occurs.
EW Theory is still new for me, however this appears to likely be ABCDE pattern potentially playing out. RSI is at 38 on the daily, we have a lot of upside from here. Waiting on RSI to kick upward to show some added strength to the upside.
Key levels are pinned in black horizontal lines. Really just waiting on some strong volume uptick, that should return, hopefully this week so we can see some nice movement. Crypto is uncertain right now, so things may take more time to play out.
Feel free to chime in with your thoughts here.
So the Crypto Market collapse has brought about a few detours, but we are recovering just fine for the time being. We just saw a reversal candle on the daily, looking for it to confirm on the next candle closing. I have two pitchforks, one with an inside fork which is set up with a green median to showcase support lines. The original pitchfork has a red median to showcase a resistance line. I laid out a path trajectory I feel like may be a possible play for ANKR. We could go up and test the 21MA and backtest, but come back to test the pitchfork line. Potentially continuing to bounce upward in the pitchfork channel till a breakout occurs.
EW Theory is still new for me, however this appears to likely be ABCDE pattern potentially playing out. RSI is at 38 on the daily, we have a lot of upside from here. Waiting on RSI to kick upward to show some added strength to the upside.
Key levels are pinned in black horizontal lines. Really just waiting on some strong volume uptick, that should return, hopefully this week so we can see some nice movement. Crypto is uncertain right now, so things may take more time to play out.
Feel free to chime in with your thoughts here.
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