🦋 Bullish Butterfly Pattern Forming | NOTUSDT Analysis
A potential Bullish Butterfly is unfolding on NOTUSDT:
X to A: initial decline
A to B: ~94.3% retracement
B to C: higher low at ~99.6%
C to D: projected bullish leg toward 0.00327 (127.8% Fib), aligning with midline of the yellow descending channel
The price is currently testing the top of the red descending channel.
If bullish momentum holds and this upper boundary breaks, we anticipate a continuation toward point D, and potentially toward 0.006044, the upper yellow channel — a highly critical resistance. A breakout and close above this level may trigger the beginning of a major bullish trend.
🔸 Risk Management:
• Consider partial profit-taking near the midline of the yellow channel
• Trail stop-loss as the price nears point D
• Use only 1% of capital per position
⚠️ Key Note:
• If price breaks below point C, this bullish butterfly setup becomes invalid
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Related publications
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.