CRV has formed a Cup & Handle pattern — a well-known structure that typically signals a bullish reversal.
From a broader technical perspective, there's additional confluence suggesting a potential trend shift.
If the most recent dip holds, it may confirm that CRV has completed its bearish cycle and has now entered a new five-wave bullish structure. Based on the current price action, it's likely that wave 3 is unfolding at the moment.
Interestingly, the depth of the Cup & Handle formation aligns well with typical wave 5 targets, offering additional validation for this setup.
In this scenario, the wave 3 target sits around $0.78, which also coincides with a previously untapped order block — adding further credibility to the level.
For a longer-term outlook, wave 5 could extend above the $1.00 mark, depending on market conditions and overall momentum.
Moreover, the Ichimoku Cloud is currently reflecting a bullish bias, with price action moving above the cloud and supportive Tenkan-Kijun alignment — reinforcing the overall bullish outlook.
Achieving this target may take time — but as we all know, in crypto, time often behaves differently.
— Thanks for reading.
From a broader technical perspective, there's additional confluence suggesting a potential trend shift.
If the most recent dip holds, it may confirm that CRV has completed its bearish cycle and has now entered a new five-wave bullish structure. Based on the current price action, it's likely that wave 3 is unfolding at the moment.
Interestingly, the depth of the Cup & Handle formation aligns well with typical wave 5 targets, offering additional validation for this setup.
In this scenario, the wave 3 target sits around $0.78, which also coincides with a previously untapped order block — adding further credibility to the level.
For a longer-term outlook, wave 5 could extend above the $1.00 mark, depending on market conditions and overall momentum.
Moreover, the Ichimoku Cloud is currently reflecting a bullish bias, with price action moving above the cloud and supportive Tenkan-Kijun alignment — reinforcing the overall bullish outlook.
Achieving this target may take time — but as we all know, in crypto, time often behaves differently.
— Thanks for reading.
Trade attivo
Close half of the position and move your stop loss to breakeven level if you entered long when I shared the analysis. You can continue without taking more risks.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.