#BtcNewHolder $ALGO

### 1. Descending Triangle Breakout Confirmation

- Confirmation Criteria:

- Closing Price:

Price must remain above the descending triangle resistance line (currently around 0.40).

- Trading Volume:

A valid breakout is usually accompanied by a significant increase in volume, as seen on the chart.

- Support Retest:

After a breakout, price often returns to test the trendline or nearby support level (e.g., the 0.382 Fibonacci at 0.3692). If this level holds, it strengthens the validity of the breakout.

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### 2. Cup and Handle Pattern Confirmation

*(If Continuation Pattern Forms)*

- Cup:

The “cup” looks almost complete with a base around 0.28.

- Handle:

Watch if the price moves sideways or slightly down from the 0.40 level to form an ideal "handle". Usually the retracement on the handle is around 0.382–0.618 of the cup depth.

- Handle Breakout:

If the price breaks through the resistance at the handle with large volume, it is a strong bullish signal.

Pattern Target:

- Cup and handle breakout target = Cup depth (0.40 - 0.28 = 0.12) added to the breakout level.

- Target = 0.40 + 0.12 = **0.52**.

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### 3. Supporting Indicators

- RSI:

- Check if the RSI supports the bullish momentum. If the RSI is in the overbought zone (above 70), be aware of a potential short-term correction.

- Moving Average:

- Use MA (50/100) to validate the trend. If the price stays above the MA, it supports the bullish scenario.

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### 4. Long-term Scenario

- If price holds above 0.40 with increasing volume:

- Potential upside towards next target at **0.50–0.52** (based on pattern).

- If price fails to hold above 0.40:

- Be aware of possible retracement to Fibonacci level 0.382 (0.3692) or 0.786 (0.3108).

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Next Steps:

- Observe price movement in the next few days.

- Focus on retesting breakout level (0.40) to confirm trend strength.