HNT wants to break out
Updated
Hi all!
Here is my new prediction. This time it is for HNT, a web3 crypto.
HNT formed an Eve & Adam pattern on 12H TF (or Cup & Handle pattern). Since the bottom, it rallied 70% trying to break the resistance. Being rejected several times, it doesn't seem to withdraw. If breaking out the resistance of Eve & Adam pattern, it will need to break the trendline starting since November 2021 to achieve the 70% target.
My proposed setup is in chart with R/R = 3.24. Referenced Take Profit (TP) levels are also proposed.
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This is not a financial advice. Risk management under your control.
Here is my new prediction. This time it is for HNT, a web3 crypto.
HNT formed an Eve & Adam pattern on 12H TF (or Cup & Handle pattern). Since the bottom, it rallied 70% trying to break the resistance. Being rejected several times, it doesn't seem to withdraw. If breaking out the resistance of Eve & Adam pattern, it will need to break the trendline starting since November 2021 to achieve the 70% target.
My proposed setup is in chart with R/R = 3.24. Referenced Take Profit (TP) levels are also proposed.
----
This is not a financial advice. Risk management under your control.
Note
For a safe trade, it's better wait for breakout and retest successfully the $11.8 level.Trade active
HNT tries hard to break the resistance $11.8Trade closed manually
BTC shows some signs of weakness. We should wait for better condition to re-enter this trade.Note
HNT could not breakout because we didn't have enough confluence: OBV and CMF is bullish but MFI is bearish.
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