LINK on the Verge Bullish Breakout Sparks Momentum !
Pattern
The chart shows a descending wedge pattern. This is generally a bullish pattern, indicating potential price reversal or breakout to the upside.
Breakout
The price has broken above the upper trendline of the wedge. This breakout is a positive signal, suggesting that bullish momentum is building.
Volume Confirmation
Check if there’s an increase in volume during the breakout. A breakout with strong volume provides confirmation.
Retest
After a breakout, it's common for the price to retest the previous resistance (now turned support). Waiting for this retest can provide a safer entry point with reduced risk.
Targets
First target: The recent swing high near $24.50.
Second target: $28.50, where there’s visible resistance.
Risk Management
Place a stop-loss below the breakout level or the lower trendline of the wedge in case the breakout fails.
The chart shows a descending wedge pattern. This is generally a bullish pattern, indicating potential price reversal or breakout to the upside.
Breakout
The price has broken above the upper trendline of the wedge. This breakout is a positive signal, suggesting that bullish momentum is building.
Volume Confirmation
Check if there’s an increase in volume during the breakout. A breakout with strong volume provides confirmation.
Retest
After a breakout, it's common for the price to retest the previous resistance (now turned support). Waiting for this retest can provide a safer entry point with reduced risk.
Targets
First target: The recent swing high near $24.50.
Second target: $28.50, where there’s visible resistance.
Risk Management
Place a stop-loss below the breakout level or the lower trendline of the wedge in case the breakout fails.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.