ONE/USDT Leaving the falling wedge for a consolidation triangleONE did leave the falling wedge indicated by the yellow lines.
Currently we see a consolidation into a triangle drawn with the violet lines.
ONE found support twice around the 0.055 line and marks kind of a double bottom which on its own is a good trend reversal sign.
The volume however is still decreasing which is fine for a consolidation.
Once we break out of the triangle we expect a volume spike.
The RSI of the daily chart on the left hand side shows bullish signs with a higher low indicated by the yellow line.
So for now we watch and are prepared for an upwards breakout.
Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
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ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.
