Bearish Flag Alert: #JOEUSDT Analysis and Projections

11 ביוני 2023

💎 #JOEUSDT has recently broken below an ascending channel, indicating a potential Bearish Flag pattern. However, it's important to note that the price has not yet breached the key demand zone near the psychological level of $0.3. As a result, while the probability has shifted in favor of the sellers, we may still anticipate an extended consolidation period before witnessing a decisive break below the critical support.

💎 In the bearish scenario, we can expect #JOEUSDT to experience a possible pullback, with price either testing the resistance level identified by the Volume Profile or the 61.8% Fibonacci level. Nevertheless, we must also consider the possibility of a continuation of the rapid downward movement. Bears could potentially drive the price towards the 227.2% Fibonacci support level, ultimately completing the bearish flag pattern.

💎 On the other hand, if we explore a bullish scenario, it is crucial for #JOEUSDT to establish a new higher high while respecting the current support. This would indicate a potential upward trend.

📊 Keep an eye on the price action, Paradisers, as it unfolds. Stay alert and trade wisely! Your ParadiseTeam is here to support you on your crypto journey. 🌴💪