#PSG/USDT Plan
On the weekly timeframe, $PSG is trading within a wedge pattern 📉🔼. 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 🚀. 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 📊.
2. Breakouts are typically accompanied by increased trading volume, so watch for a volume surge to confirm the move 🔥.
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 ⚡.
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 📈.
- 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 🛡️.
This is not financial advice. Always do your own research (DYOR) before making trading decisions 🔍. Stay disciplined and trade wisely!
