Greetings fellow traders!
My first TA on Chiliz! Quite exciting, since I come with hopefully good news. A symmetrical triangle is forming. Hopefully it finds support whereas it is now. If it does it will confirm the bullish pennant. The apex is quite a short window before it breaks out. Whether it will be bearish or bullish. Standing on alert at these times would be wise.
Waiting for EMI 1 yellow X with green diamond for confirmations.
EMI 2 is still pretty bearish. However the money flow is still above 0. Regardless of its velocity declining. Stochastic & RSI recently crossed bullish and leaving the oversold territories.
Since crypto overal is in a bull market, I'm pretty bias on the bullish side. Even if it does break bearish. I still wouldn't be really concerned. I reckon it will become a stronger bullish pattern eventually.
Good luck, be careful and may the trend gods be with you!
My first TA on Chiliz! Quite exciting, since I come with hopefully good news. A symmetrical triangle is forming. Hopefully it finds support whereas it is now. If it does it will confirm the bullish pennant. The apex is quite a short window before it breaks out. Whether it will be bearish or bullish. Standing on alert at these times would be wise.
Waiting for EMI 1 yellow X with green diamond for confirmations.
EMI 2 is still pretty bearish. However the money flow is still above 0. Regardless of its velocity declining. Stochastic & RSI recently crossed bullish and leaving the oversold territories.
Since crypto overal is in a bull market, I'm pretty bias on the bullish side. Even if it does break bearish. I still wouldn't be really concerned. I reckon it will become a stronger bullish pattern eventually.
Good luck, be careful and may the trend gods be with you!