Hi, lets take a bite at CIVIC today.
The pattern is clear: inverse H&S
Volume are rising along the price which is a good sign.
The RSI and the Stochastic are rising indicating of an upward momentum.
The coin has made one test of the 100-day EMA (green one).
If a close above the neckline of the pattern, we can expect a quick move to my first TP point (373 sat).
My SL is below the tip of the right shoulder. (237 sat) If the price goes that low the pattern will be invalidated, and the trade closed.
Disclaimer: This is not financial advice as I’m not a financial adviser. This is just my knowledge on what can be said one the chart actually.
Everyone is wise to manage their own risk properly when considering any trading decision or activities.
The pattern is clear: inverse H&S
Volume are rising along the price which is a good sign.
The RSI and the Stochastic are rising indicating of an upward momentum.
The coin has made one test of the 100-day EMA (green one).
If a close above the neckline of the pattern, we can expect a quick move to my first TP point (373 sat).
My SL is below the tip of the right shoulder. (237 sat) If the price goes that low the pattern will be invalidated, and the trade closed.
Disclaimer: This is not financial advice as I’m not a financial adviser. This is just my knowledge on what can be said one the chart actually.
Everyone is wise to manage their own risk properly when considering any trading decision or activities.
On a weekly time-frame everything is set up for a massive rally.
Stochastic pointing up
RSI printing a bullish div but not quite confirmed yet.
and good rising volume indicative of a regain of interest in the coin by large players.
I will keep you updated as the trend develop.