Potential i H&S pattern on NANOBTC
Hi all and welcome to my very first idea published on TradinView.
We can see a 4h chart, which seems to be showing a hypothetical inverted head and shoulders pattern, which is a very bullish signal if confirmed.
At the moment nanobtc seems to be on the way of drawing the right shoulder with a decrease in the volume, which should not be a problem. MACD seems to be slowly rolling over to bullish.
If the pattern gets confirmed, and this means that both 1) it breaks above the pink line resistance and 2) it does it with a big increase on the volume , the price should start a bullish rally aiming the dotted price limit (0.0026 / 0.0028btc), which interestingly is the maximum of 2nd of Feb. However, we can have a more conservative target on the 1.618FIB, around 0.0235btc.
The price is now hold by the EMA 100, which is acting as support on the Fib618 level. A breakout to the downside, I believe should lead us to the 381Fibo, around the 0.001btc price level.
I hope you liked my analysis :) and wish you good luck.
Alberto
We can see a 4h chart, which seems to be showing a hypothetical inverted head and shoulders pattern, which is a very bullish signal if confirmed.
At the moment nanobtc seems to be on the way of drawing the right shoulder with a decrease in the volume, which should not be a problem. MACD seems to be slowly rolling over to bullish.
If the pattern gets confirmed, and this means that both 1) it breaks above the pink line resistance and 2) it does it with a big increase on the volume , the price should start a bullish rally aiming the dotted price limit (0.0026 / 0.0028btc), which interestingly is the maximum of 2nd of Feb. However, we can have a more conservative target on the 1.618FIB, around 0.0235btc.
The price is now hold by the EMA 100, which is acting as support on the Fib618 level. A breakout to the downside, I believe should lead us to the 381Fibo, around the 0.001btc price level.
I hope you liked my analysis :) and wish you good luck.
Alberto
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