Quick Context: Since May, price has formed a series of lower highs connected by a descending trendline (yellow). Beneath it lies a strong demand zone at 0.406–0.420, aligning with Fibonacci 0.5 (0.419) and 0.618 (0.407) — the golden pocket. Current price is around 0.435, pressing against the trendline and approaching the apex of the pattern.
Pattern & Key Levels
Main Pattern: Descending Triangle (downward-sloping top, relatively flat base/zone). Theoretically slightly bearish, but since it sits right on the golden pocket with compression, the probability of an impulsive breakout in either direction is high.
Major Demand / Support: 0.406–0.420 (golden pocket + base).
Immediate Resistance: descending trendline + 0.44–0.46 area.
Next resistance targets (yellow dashed lines): 0.484 → 0.542 → 0.674 → 0.732.
Downside supports if broken: 0.380 → 0.350 → 0.296.
Bullish Scenario
1. Confirmation: Daily close above the trendline and ideally > 0.460 (clear breakout confirmation).
2. Healthy Retest: Pullback to 0.44–0.46 / trendline, now acting as support.
3. Step Targets:
T1: 0.484
T2: 0.542
T3: 0.674
T4: 0.732
4. Bullish Invalidation: Daily close back below 0.420; strong invalidation if < 0.406 (loss of golden pocket).
Bearish Scenario
1. Rejection: Fails to break 0.44–0.46 / trendline and turns down.
2. Weakness Confirmation: Daily close below 0.406 (loss of base + golden pocket).
3. Downside Targets:
S1: 0.380
S2: 0.350
S3: 0.296
4. Bearish Invalidation: Daily close above 0.460 with a successful retest flips bias to bullish.
Execution Notes
Apex Break: The closer price gets to the apex, the higher the risk of false breaks — always wait for a daily close to confirm.
Volume: A valid breakout should be accompanied by increasing volume.
Risk Management: Place stops beyond the invalidation zones of your chosen scenario (below 0.406 for breakout longs; above 0.460 for rejection shorts).
> Summary: WALUSDT is being squeezed between the descending trendline and golden pocket 0.406–0.420. A daily close above 0.460 could open the path to 0.484/0.542, while a breakdown below 0.406 may trigger a drop towards 0.380–0.350.
Not financial advice; purely for educational and technical reference.
#WALUSDT #Walrus #CryptoTA #PriceAction #DescendingTriangle #Fibonacci #SupportResistance #Breakout #RiskManagement
Pattern & Key Levels
Main Pattern: Descending Triangle (downward-sloping top, relatively flat base/zone). Theoretically slightly bearish, but since it sits right on the golden pocket with compression, the probability of an impulsive breakout in either direction is high.
Major Demand / Support: 0.406–0.420 (golden pocket + base).
Immediate Resistance: descending trendline + 0.44–0.46 area.
Next resistance targets (yellow dashed lines): 0.484 → 0.542 → 0.674 → 0.732.
Downside supports if broken: 0.380 → 0.350 → 0.296.
Bullish Scenario
1. Confirmation: Daily close above the trendline and ideally > 0.460 (clear breakout confirmation).
2. Healthy Retest: Pullback to 0.44–0.46 / trendline, now acting as support.
3. Step Targets:
T1: 0.484
T2: 0.542
T3: 0.674
T4: 0.732
4. Bullish Invalidation: Daily close back below 0.420; strong invalidation if < 0.406 (loss of golden pocket).
Bearish Scenario
1. Rejection: Fails to break 0.44–0.46 / trendline and turns down.
2. Weakness Confirmation: Daily close below 0.406 (loss of base + golden pocket).
3. Downside Targets:
S1: 0.380
S2: 0.350
S3: 0.296
4. Bearish Invalidation: Daily close above 0.460 with a successful retest flips bias to bullish.
Execution Notes
Apex Break: The closer price gets to the apex, the higher the risk of false breaks — always wait for a daily close to confirm.
Volume: A valid breakout should be accompanied by increasing volume.
Risk Management: Place stops beyond the invalidation zones of your chosen scenario (below 0.406 for breakout longs; above 0.460 for rejection shorts).
> Summary: WALUSDT is being squeezed between the descending trendline and golden pocket 0.406–0.420. A daily close above 0.460 could open the path to 0.484/0.542, while a breakdown below 0.406 may trigger a drop towards 0.380–0.350.
Not financial advice; purely for educational and technical reference.
#WALUSDT #Walrus #CryptoTA #PriceAction #DescendingTriangle #Fibonacci #SupportResistance #Breakout #RiskManagement
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✅ Get Free Signals! Join Our Telegram Channel Here: t.me/TheCryptoNuclear
✅ Twitter: twitter.com/crypto_nuclear
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✅ Benefits : Lifetime Trading Fee Discount -50%
✅ Twitter: twitter.com/crypto_nuclear
✅ Join Bybit : partner.bybit.com/b/nuclearvip
✅ Benefits : Lifetime Trading Fee Discount -50%
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.