NANOUSD Swing Trade: H&S 30% Short to 50% Long
NANO USD is forming the right shoulder of a head and shoulders pattern, setting up a potential 30-38% correction upon the neckline break.
Price action should then move down near previous supports levels surrounding the .618 fib following breaks of the .382 and .5 fibs.
Look for the correction to complete with the .618 fib area support levels holding, which then setups up the potential for a 50% swing to the upside to retest the neck line near the .236 fib.
From the .286 Fib, there is then potential to create an inverse head and shoulders with a move back near the near the 1.31 area.
Not investment advice. Crypto is highly volatile and market conditions can change drastically.
Price action should then move down near previous supports levels surrounding the .618 fib following breaks of the .382 and .5 fibs.
Look for the correction to complete with the .618 fib area support levels holding, which then setups up the potential for a 50% swing to the upside to retest the neck line near the .236 fib.
From the .286 Fib, there is then potential to create an inverse head and shoulders with a move back near the near the 1.31 area.
Not investment advice. Crypto is highly volatile and market conditions can change drastically.
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