After a slide to the down side, PUNDIX has maintained its trend at 1410sats. A reversal to the upside continues with little consolidation within this current price and below. Two different chart pattern was spotted as a bullish signal to take a position as the little consolidation allows traders to take a position. these two chart pattern are:
- The symmetrical triangle
- The double bottom( adam&adam)
THE SYMMETRICAL TRIANGLE
A current breakout from the symmetrical triangle, which is currently consolidating at its current price and would likely retest the symmetircal triangle truning it to a support. With two different price target based on the height of the symmetrical triangle at 0.00002128sats and 0.00002567sats respectively, yet to be achieved. Volume always has a decreasing value before a potential breakout(which just happened).AS SHOWN BELOW.
Lastly, DOUBLE BOTTOM(ADAM&ADAM)
With the two bottomed down side displaying a V shape, which is known as the ADAM&ADAM. With a stong resistance level at 0.00001832sats(neckline) price needs to breakout from the neckline and close above it before a position will taken. Still same price target like the symmetrical triangle. Consolidation between the 0.786fib and 0,618fibonacci retracement level before a possible breakout.
Technicals suggest that PUNDIX is currently bullish based of the two chart pattern spotted on the 4hours time frame. Position should be taken based on the analysis from above and the verdict below.
BUY: 0.00001884sast down to 0.00001810sats
SELL: 0.00002181sats up to 0.00002567sats
STOP LOSS: 0.00001521sats
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.