$Loopring has formed symmetrical Triangle | Breakout is likely to happen soon
CryptoKraze Technical Analysis
Possibility on 30 Minute Chart
If you look at 30 minute chart, you will see $Loopring has formed a symmetrical triangle and likely to breakout. This is very common pattern in cryptocurrencies, whenever a coin makes this descending triangle, a breakout is imminent that might happen anytime soon. If we look at RSI, it has touched 70 level and has dipped below 50 level. It has to rise up to touch 70 level again.
- I would have a buy entry at 0.00004350 with my profit target around 0.00005000 or above.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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Checking the last few candlesticks, there's a higher chance of a downside breakout.
sir,nice post
Great analysis here appreciate it from Pakistan @cryptokraze
thanks imfo @cryptokraze. still I do not understand
Interesting and analysis backed with crypto experience
Crypto coins keeps popping up recently.
Do you think it is safe for the digital world in the long run?
Nice post.... Like