Reef's Possible Patterns
Reef went down significantly today due to BTC's dip and went past a previous level of support. on the long term pattern , it seems to be showing bearish signs if it doesn't break out before June 16th.
We can also observe a Symmetrical triangle pattern in purple that has formed which could go either way with a possible profit/loss of 0.0215 of its total value judging by the max height.
If it breaks the triangle's upper trendline and shows signs of bullishness , we could expect it to be in some sort of channel which could be profitable for short term traders . buying and shorting near the green lines
If Reef keeps going and reaches the end of each triangle's Apex , then this would all be voided.
Resistance zones : 0.045 / 0.05 / 0.06 $
We can also observe a Symmetrical triangle pattern in purple that has formed which could go either way with a possible profit/loss of 0.0215 of its total value judging by the max height.
If it breaks the triangle's upper trendline and shows signs of bullishness , we could expect it to be in some sort of channel which could be profitable for short term traders . buying and shorting near the green lines
If Reef keeps going and reaches the end of each triangle's Apex , then this would all be voided.
Resistance zones : 0.045 / 0.05 / 0.06 $
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