Mind that if the whole market dumps, we're going for a spring. That would be a new range low and a potential completion of phase C of a Wyckoff re-accumulation pattern. Bearish in the short, really bullis for medium and long term
Cerbearox
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CRV: long setup (CRV/USD)
Really interesting long after retest setup here for $CRV
Why a long now and why $CRV ? First of all, we need to compare the CRV chart with the most of other alts: - no recent LL - two month of range accumulation - clear long term support below - 1D RSI still above 50 These peculiarity let me think that CRV could be in a diferent cycle phase than most of the other alts and deserve a closer look.
On the 3D we can appreciate the long term range accumulation structure, a first breakout and then the retest of the main support, still in progress.
The daily chart shows us the RSI still above 50, a necessarily perequisite for every kind of sustained uptrend movement.
But there's more: a potential three touches / iH&S pattern in the making, with the expected HL above the long term support, a really sensible area for a strong reaction.
Finally, this is arguably the only altcoins with a decent martket cap that already made a 5W movement up and it is now correcting in what seems an ABC down.
This let me think of a potential W1 already completed with a W2 in progress and potentially ending around the support zone.
This trade required patience and to avoid knife catching: if the market moves down, $CRV will follow. However, if then you see a clear reaction near the support while BTC stop correcting, you know that you have a long opportunity here.
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