1INCH/USD - Breakout approaching, get ready!
1INCH is at the end of this large descending triangle. A breakout is due soon, therefore watch the price action as it will give us a clear sign where we're headed next.
The resistance so far pushed us lower every time, but we found good support on $3.5. With a bit of momentum I'd expect us to break out. This is because RSI has been making higher lows every time and MACD on daily wants to pump.
I am bullish biased, but best to wait for a confirmation before entering at this point. If you bought the support level, then wait, let your stop loss do it's job should we fall, but I find that unlikely.
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The resistance so far pushed us lower every time, but we found good support on $3.5. With a bit of momentum I'd expect us to break out. This is because RSI has been making higher lows every time and MACD on daily wants to pump.
I am bullish biased, but best to wait for a confirmation before entering at this point. If you bought the support level, then wait, let your stop loss do it's job should we fall, but I find that unlikely.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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