Next Top gainer " $ORDI " ๐ค
His Chart show Bullish Singh;๐
Based on the chart provided for ORDI/USDT, hereโs a detailed technical analysis:
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Chart Observation (Weekly Timeframe)
1. Pattern:
The chart shows a symmetrical triangle pattern, a consolidation phase that typically precedes a breakout (either bullish or bearish).
Price is nearing the apex of the triangle, indicating a breakout is imminent.
2. Support and Resistance:
Support Zone: $32.00โ$34.00 (highlighted as the lower boundary of the triangle).
Resistance Zone: $42.00โ$45.00 (upper boundary of the triangle and horizontal resistance).
3. Volume:
Volume appears to be declining during the consolidation phase, which is characteristic of this pattern and suggests a breakout is approaching.
4. Projection:
Upside Target: If price breaks out upward, the chart projects a potential move to $70.00โ$75.00 (calculated using the triangleโs height).
Downside Risk: If price breaks downward, the price could revisit the $20.00โ$25.00 support zone.
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Trading Plan for Future Trade;
Bullish Scenario (Breakout Upwards)
Entry: Above $40.00 (confirmation of breakout with volume).
Sl: $34_$32
Tps: $55_$62_$75
Use only: 10% portfolio
- See Chart now...๐
- Buy for spot now...๐$ORDI
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Additional Notes
Watch Volume: A valid breakout requires a spike in volume. Low-volume breakouts are often unreliable.
Timeframe for Breakout: Since the price is near the apex, expect a breakout within the next 1โ2 weeks.
Risk Management: Use low leverage and ensure proper position sizing to minimize losses.
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