$OG The token is currently forming a falling wedge pattern on the daily chart, a bullish setup that indicates a potential upward move. If the breakout confirms, it could lead to significant price gains for investors.
What is Happening.
Falling Wedge Pattern:
A falling wedge occurs when the price moves within a narrowing downward sloping range, signaling that selling pressure is weakening.
Breakout Potential:
Once the price breaks above the upper trendline with strong volume, it confirms a bullish breakout.
Key Levels to Watch.
Buy Zone:
$4.30 - $4.80
This range is ideal for accumulating $OG, as it aligns with strong support levels near the lower boundary of the wedge.
Targets After Breakout:
Target 1: $7.09 (+47%)
Target 2: $8.64 (+100%)
Target 3: $14.00 (+220%)
These targets represent key resistance levels from previous highs.
Stop-Loss:
$4.00
Place a stop-loss below the wedge’s lower trendline to minimize risk if the pattern fails.
Why is $OG Bullish.
Reduced Selling Pressure: The wedge indicates sellers are losing control.
Bullish Momentum Ahead: Strong breakout volume can push prices higher.
Potential Gains: This setup offers a favorable risk-to-reward ratio with possible 220% upside.
Trading Plan.
Pro Tip:
Always wait for breakout confirmation with high trading volume.
Consider dollar-cost averaging within the buy zone for a better entry price.
Stay updated for further technical signals as the breakout unfolds.
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