On the daily timeframe, the trend has been bearish. The price has been making lower highs since December, finding support at 2.5$ before climbing back up.
However, price action has been narrowing, as we can see from these dashed lines forming a triangle. This is predating huge volatility could happen soon.
Clearly, if we break above the 0.382, which is at 4.8$, we can say the global trend is no longer bearish.
On the 4 hours, the trend is rather bullish, with each lows and highs being higher than the previous one.
I'd like to see some kind of continuation: price might touch that ascending support then bounce off it up to resistance being at 4.8$, then it would create an ascending triangle which could lead to a breakout:
Right now it is just a waiting game. I'll keep this idea updated.
However, price action has been narrowing, as we can see from these dashed lines forming a triangle. This is predating huge volatility could happen soon.
Clearly, if we break above the 0.382, which is at 4.8$, we can say the global trend is no longer bearish.
On the 4 hours, the trend is rather bullish, with each lows and highs being higher than the previous one.
I'd like to see some kind of continuation: price might touch that ascending support then bounce off it up to resistance being at 4.8$, then it would create an ascending triangle which could lead to a breakout:
Right now it is just a waiting game. I'll keep this idea updated.
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I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/