#PSG/USDT Plan
On the weekly timeframe, $PSG is trading within a wedge pattern ๐๐ผ. This structure often hints at a potential breakout scenario. If the price manages to break above the wedge resistance, we could witness a strong bullish move, potentially 100-200% in the coming days ๐. Keep this pair on your watchlist as wedge patterns often lead to significant price movements.
Key observations:
1. The price is currently testing the upper trendline of the wedge, which has acted as a strong resistance zone. A confirmed breakout above this level could open the doors for a major rally ๐.
2. Breakouts are typically accompanied by increased trading volume, so watch for a volume surge to confirm the move ๐ฅ.
3. Momentum indicators such as #RSI and #MACD are key tools to monitor. Positive signals or crossovers from these indicators can further strengthen the breakout case โก.
Tips for trading wedge breakouts:
- Wait for a confirmed candle close (daily or weekly) above the resistance line before entering a trade.
- A noticeable volume spike during the breakout signals strong buying pressure ๐.
- Watch for a potential retest of the broken resistance line as support, which could offer a safer entry point.
- Be cautious of fake breakouts. Set a stop-loss below the recent swing low to manage risk effectively ๐ก๏ธ.
This is not financial advice. Always do your own research (DYOR) before making trading decisions ๐. Stay disciplined and trade wisely!
