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TELUSDT 2 Hour Chart

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Telcoin / Tether (KUCOIN:TELUSDT)  
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KUCOIN:TELUSDT   Telcoin / Tether
Support and Resistance Head and Shoulders Triangle
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supportandresistance headandshoulders triangle
On high time frame (daily chart), TELUSDT formed a descending triangle.

Inside the descending triangle, there are a few pattern identify at the low time frame
  • Descending parallel channel
  • An invalidated ascending triangle
  • Inside a descending parallel channel, there is a inverse head & shoulder
  • PA dipped into the white rectangle level which I identified as a strong support level.

The pink dashed line is the resistance level that TEL has to reclaim.
The inverse head & shoulder had played out lead to the breakout of the descending parallel channel. Currently the PA is retest the descending parallel channel.

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