SONIC Looks Bullish (8H)

392
We have a 3D pattern at the bottom, indicating a potential price reversal. There’s a bullish CH on the chart, and the trigger line has been broken. A green support zone is marked on the chart, and we’re looking for a buy/long position around this area.

Given that Bitcoin might undergo a correction, risk management is essential for this setup.

Targets are marked on the chart.

A daily candle close below the invalidation level will invalidate this analysis.

For risk management, please don't forget stop loss and capital management
Comment if you have any questions
Thank You

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.