Hello Traders! CTDave here again with another daily price analysis chart.
Today I will be analyzing Anchor (ANC). As you can see from the chart, this will be a very profitable trade if ANC goes as expected. So let's dive in to see why.
Short Term:
The image above shows the chart in a 30-minute timeframe. There is a bullish breakout triangle forming inside another bullish breakout triangle pattern which is surprisingly inside yet another bullish breakout triangle. The red thick arrow shows the expected price move, whereas the orange and blue lines show two possible outcomes.
Taking a look at the 45-minute timeframe shows how exactly the orange and blue lines might go.
The resistance point is almost around $1 where you can take the profit.
Long Term:
As you can probably see, ANC is very bullish long-term. The next resistance after the breakout is at a little bit over $2. After the breakout, a new ATH could possibly be seen. The RSI is also near its all-time low, which indicates a possible reversal.
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.
Today I will be analyzing Anchor (ANC). As you can see from the chart, this will be a very profitable trade if ANC goes as expected. So let's dive in to see why.
Short Term:
The image above shows the chart in a 30-minute timeframe. There is a bullish breakout triangle forming inside another bullish breakout triangle pattern which is surprisingly inside yet another bullish breakout triangle. The red thick arrow shows the expected price move, whereas the orange and blue lines show two possible outcomes.
Taking a look at the 45-minute timeframe shows how exactly the orange and blue lines might go.
The resistance point is almost around $1 where you can take the profit.
Long Term:
As you can probably see, ANC is very bullish long-term. The next resistance after the breakout is at a little bit over $2. After the breakout, a new ATH could possibly be seen. The RSI is also near its all-time low, which indicates a possible reversal.
Thanks for reading!
As always, I encourage everyone to please like, comment, and share my ideas, and follow me for more of these posts to be kept updated. Happy trading! Thank you!
Note: I am not a financial advisor, please do not trade solely based on my trading decisions. Do your own research or consult a professional financial advisor before conducting a trade.