Alikze »» INJ | Reverse head and shoulders pattern - 12H
2024-10-11

🔍 Technical analysis:  Suspect an inverted head and shoulders pattern
 

- In the  analysis presented  in the 12-hour time frame, it was mentioned that in case of selling pressure in the range of $25, the correction will continue until the Fibo range of 1.618 in the range of $18.75.

  

- It is currently moving in an ascending channel.

- It has faced selling pressure in the middle of the channel.

- Due to the formation of the inverted top pattern, in case of breaking the Fibo 1.618 and stabilizing below the 18.75 area, the correction will continue until the liquidity area and the origin of the movement.

- Therefore, according to the zigzag correction structure, this correction can extend to the liquidity area and complete the correction leg C in the specified areas.

💎  Alternative scenario , if it stabilizes in the range of 18.75, it can grow to the middle of the channel in the first step and then to the range of the supply area of ​​$25.
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  BINANCE:INJUSDT  
