evasivesteering

AGIX possible inverse head & shoulders pattern

Long
KUCOIN:AGIXUSDT   SingularityNET Token / Tether

AI cryptos have cooled off a bit but in mid/long-term they are still attractive because AI is really transforming the world.

AGIX is one of the hottest AI cryptos (beside FET, OCEAN, GRT...). It seems that an inverse H&S pattern is under formation for AGIX.

Prices are close to a potential buy area for the following reasons:
  • Potential bottom of the right shoulder
  • Strong local support Fib 0.618
  • Decling volume indicating that sell pressure would be vanishing soon

How do you think about this analysis and AGIX?

Thanks!






Trade active:
AGIX is in buy zone. Prices touched the Fib 0.618 and is bouncing
Comment:
AGIX is up 10% (for the moment) along with other AI cryptos.
Trade closed manually:
I closed this trade waiting for better condition to re-enter.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.