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CSPR - Falling wedge (D) and bull pennant (4h), 125% target
CSPR is forming a bull pennant on the 4H timeframe and is on the verge of break out.
After recently breaking out of a falling wedge on the daily chart, we're now seeing a second bullish continuation pattern develop, making the overall structure for CSPR appear very bullish.
The last time CSPR broke out of a falling wedge on the daily timeframe, the price surged over 180%.
That move was followed by a sharp pullback with long wicks, eventually forming a new falling wedge.
Given CSPR’s history of short but explosive moves (high volatility), it’s advisable to use a tight TP when trading this setup.
I’m anticipating another potential rejection near the $0.026 zone which could still offer upside potential of around 125%.
For a more conservative approach, you could aim for the upper boundary of the wedge, which currently sits around $0.019.
Let’s reach the summit together!
📝 Note
I'm currently building a portfolio of crypto analyses here on TradingView. Your feedback, tips, or validation are greatly appreciated, especially as I continue developing this skill further!
After recently breaking out of a falling wedge on the daily chart, we're now seeing a second bullish continuation pattern develop, making the overall structure for CSPR appear very bullish.
The last time CSPR broke out of a falling wedge on the daily timeframe, the price surged over 180%.
That move was followed by a sharp pullback with long wicks, eventually forming a new falling wedge.
Given CSPR’s history of short but explosive moves (high volatility), it’s advisable to use a tight TP when trading this setup.
I’m anticipating another potential rejection near the $0.026 zone which could still offer upside potential of around 125%.
For a more conservative approach, you could aim for the upper boundary of the wedge, which currently sits around $0.019.
Let’s reach the summit together!
📝 Note
I'm currently building a portfolio of crypto analyses here on TradingView. Your feedback, tips, or validation are greatly appreciated, especially as I continue developing this skill further!
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.