Bitcoin / TetherUS
Panjang

BTC/USDT - Potential Bullish Reversal

119
Observations:

Ascending Trendline Support:
  • Price is respecting an ascending orange trendline, acting as dynamic support.
  • This trendline has been tested multiple times, showing strong bullish interest.


Bullish Falling Wedge:
  • A falling wedge pattern is forming, indicating a possible bullish breakout.
  • Breakout confirmation would signal potential upside momentum.


Volume Analysis:
  • Decreasing volume during the wedge formation suggests accumulation.
  • A breakout with increased volume will confirm bullish intent.


RSI Analysis:
  • RSI is rebounding from oversold levels, aligning with the trendline support.


Learning Opportunity:
  1. Key Patterns: Watch for a falling wedge breakout and volume spikes for confirmation.
  2. Momentum Check: RSI moving above 50 post-breakout will further strengthen bullish sentiment.

Penafian

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