Multi-months Inverse Head N' Shoulder about to conclude
Currently drawing the 2nd shoulder of a multi-months Inverse Head & Shoulder pattern on XVG USD, whose neckline is there at 0.01 USD.
But guess what... 200 weekly EMA is sitting on that key level too (at the time I'm writing). It clearly acted as a resistance during last week rally, but if retested will be demolished by the bulls sooner or later.
Always remember, the 200 weekly EMA is certainly the most powerful "ally" of a BULL during a bull-market.
A smart "LONG" call is to eventually trade the breakout, definitely not FOMOing before: there is litterally a "starway to heaven" all above, which will make your entry price ridiculous at the end of the next bull cycle!
NO FINANCIAL ADVISE. INVEST AT YOUR OWN RISK AND ALWAYS DO YOUR OWN RESEARCHES.
But guess what... 200 weekly EMA is sitting on that key level too (at the time I'm writing). It clearly acted as a resistance during last week rally, but if retested will be demolished by the bulls sooner or later.
Always remember, the 200 weekly EMA is certainly the most powerful "ally" of a BULL during a bull-market.
A smart "LONG" call is to eventually trade the breakout, definitely not FOMOing before: there is litterally a "starway to heaven" all above, which will make your entry price ridiculous at the end of the next bull cycle!
NO FINANCIAL ADVISE. INVEST AT YOUR OWN RISK AND ALWAYS DO YOUR OWN RESEARCHES.
Disclaimer
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.