TOMO WAITING GAME: Ascending Triangle
Updated
On this hourly chart of BINANCE:TOMOUSDT, the coin forms an ascending triangle pattern. For this instance, there could be an imminent breakout or breakdown.
This week can have a massive movement of the coin as the shape of a month-long triangle spans until approximately Wednesday as the price is squeezing inside as of today, so let's wait for the next days ahead and add this coin to your crypto watchlist.
In analyzing the price movement, if a support breakdown happens, potentially hitting the support lines through a Fibonacci retracement from swing low to swing high. On the other note, a breakout occurs through the price overlapping the vertical resistance and potentially retesting to assess its firmness and identifying it as a possible new support line along with other key resistance lines.
Always plan your trades by identifying take profit and stop loss areas for security. Moreover, discipline, one example is PATIENCE. Have a great week ahead, and happy trading!
This week can have a massive movement of the coin as the shape of a month-long triangle spans until approximately Wednesday as the price is squeezing inside as of today, so let's wait for the next days ahead and add this coin to your crypto watchlist.
In analyzing the price movement, if a support breakdown happens, potentially hitting the support lines through a Fibonacci retracement from swing low to swing high. On the other note, a breakout occurs through the price overlapping the vertical resistance and potentially retesting to assess its firmness and identifying it as a possible new support line along with other key resistance lines.
Always plan your trades by identifying take profit and stop loss areas for security. Moreover, discipline, one example is PATIENCE. Have a great week ahead, and happy trading!
Note
A price breakdown happened, and it is correlated with other major coin breakouts. And, currently on our upper label resistance approaching the next level. Congratulations to all who wait and entered!
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