1. Target and Prices
• The current price on the chart is between 0.049 - 0.051 levels.
• If it breaks the resistance zone, the first target may be the 0.068 - 0.072 zone.
• The range of 0.090 - 0.100 stands out as a further target.
2. Support and Resistance Levels
• Support: 0.045 - 0.046 level works as a strong support.
• Resistance: The 0.051 level is a resistance zone that must be overcome in the short term.
• If this resistance is overcome, movement to the above potential targets may accelerate.
3. Indicators
• The current direction of indicators such as Bollinger Bands and RSI is important. In this chart, especially the RSI and volume increase may indicate a resistance break.
• If an increase in volume is observed, this will be a factor supporting the upward break of the trend.
4. Formations and Formation Reversals
• The chart shows a falling channel structure. The upper band of this channel has been broken and the price is trying to stay above this level.
• This shows that the “Falling Channel Breakout” formation has become active and the rise may continue.
5. Trend Direction
• It seems that there has been an exit from the downtrend in the medium term. There is currently an upward trend beginning.
• However, the breakout may test a reversal in the short term for confirmation.
6. Strategy
• Buying Strategy: A large purchase can be made when the price breaks the 0.051 resistance.
• Stop-Loss: Positions can be exited when price closes below 0.045.
• Targets: First target is 0.068, then 0.090 levels.
Comments and Recommendations
• In the short term, price breaking the resistance zone activates formation targets.
• If volume support is provided, larger movements can be expected.
• Still, the general direction of the market and Bitcoin movements should be followed carefully.
