🔺 Pattern:
An ascending triangle is forming, which is a bullish technical pattern if it breaks out with volume above the resistance level.
The TP1 (Take Profit 1) marked in the $64.72–$66.38 USD zone is logical and aligns with previous resistance levels.
🟢 Bullish Signals:
Imminent triangle breakout: if the price strongly surpasses the $59–$60 USD range, it confirms the pattern.
Increasing volume on previous green candles: a good sign of accumulation.
Slightly expanding Bollinger Band: may indicate the beginning of a stronger move.
EMAs are flattening, with a possible future crossover if a rally confirms.
🔴 Risks and Key Levels to Watch:
The macro trend remains bearish: several timeframes (15m, 1H, 4H, 1D) show "BEARISH" zones.
Strong resistances: around $64.72, and especially between $72.31 and $76.00 USD.
If the breakout fails and price drops below $57.43, the pattern is invalidated and price may seek support at lower levels ($52–$50).
An ascending triangle is forming, which is a bullish technical pattern if it breaks out with volume above the resistance level.
The TP1 (Take Profit 1) marked in the $64.72–$66.38 USD zone is logical and aligns with previous resistance levels.
🟢 Bullish Signals:
Imminent triangle breakout: if the price strongly surpasses the $59–$60 USD range, it confirms the pattern.
Increasing volume on previous green candles: a good sign of accumulation.
Slightly expanding Bollinger Band: may indicate the beginning of a stronger move.
EMAs are flattening, with a possible future crossover if a rally confirms.
🔴 Risks and Key Levels to Watch:
The macro trend remains bearish: several timeframes (15m, 1H, 4H, 1D) show "BEARISH" zones.
Strong resistances: around $64.72, and especially between $72.31 and $76.00 USD.
If the breakout fails and price drops below $57.43, the pattern is invalidated and price may seek support at lower levels ($52–$50).
Trade active
TP1 and TP2 reached!Trade closed: target reached
Target reached!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.
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.