$ALPHA Analysis: A Big Move Might Be Coming.
Pattern Detected: Falling Wedge on the Weekly Timeframe.
A falling wedge is a bullish reversal pattern that often signals a strong upward rally upon breakout.
Potential Breakout Levels.
If $ALPHA breaks out of this wedge with strong volume, we could see a massive rally towards:
1. $0.14 (Initial Target)
2. $0.30 (Intermediate Target)
3. $0.70 (Ultimate Target 🎯)
These targets align with key resistance zones from the past.
Buy Zone (Entry Point).
$0.075 - $0.085: This range offers a low-risk entry near the bottom of the pattern, where buyers are accumulating.
Stop-Loss (Risk Management)
$0.065: Place a stop-loss slightly below the recent support level to limit potential losses if the pattern fails.
Strategy After Breakout
1. Wait for a confirmed breakout above $0.10 with strong volume.
2. Buy on breakout retest if the price pulls back to the breakout zone ($0.10).
3. Trail your stop-loss as the price moves up to secure profits.
Time to Act.
The falling wedge on the weekly timeframe indicates that $ALPHA is near the end of its consolidation phase. A breakout could happen soon. Monitor the price action closely and stick to your trading plan.
Disclaimer:
This is not financial advice. Always do your research and manage your risks carefully before trading.
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