Comprehensive analysis of the #usual coin
1. Frame 4 and Daily Hours – The Bigger Picture
The market appears to have experienced strong selling pressure over the past period, as the price has been continuously declining with the formation of lower lows.
The break of the strong support level at 0.7370 previously was evidence of the dominance of sellers, which pushed the market further down.
But here lies hope:
With the recent break of the ascending triangle on the smaller time frames, we see that buyers are gradually starting to regain control. The new momentum could be the start of a new journey to the upside.
"The market is unforgiving, but it always gives opportunities to those who know how to read its movement."
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2. Clock frame – the beginning of change
On this frame, it is clear that the price has broken the downtrend line for the first time in a while.
Buyers' entry became more evident, with a significant increase in volume during the breakout.
The pivotal level now is 0.7000; if the price can break it steadily, the doors are open for further upside towards the major resistance at 0.7370.
“When you see volume supporting price action, know that the market is speaking with a clear voice: Be part of the action!”
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3. 15 minute frame – the moment of breaking and decision
If we notice the time the picture was taken, you will see that I took it before the time of the next picture. I was waiting for confirmation of the movement.
The triangle observed on this frame was the key to the current move.
The price breaking the triangle to the upside indicates that buyers are regaining control after a long period of stagnation.
The current momentum shows a golden opportunity to target 0.7000 levels as a first stop, and with continued strength, we could see 0.7370 levels soon.
"Every triangle broken upwards is the beginning of a new story, and every peak awaits those who dare to climb."
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Overall view and proposed strategy:
General expectation:
The market is showing positive signs of change, with signs of a short-term rebound beginning.
Buyers are gradually taking control, but the biggest challenge lies in breaking the key resistance at 0.7370.
Next steps:
1. Buy Now:
With the recent break, entering at current levels is a perfect opportunity.
Objectives:
First target: 0.7000.
Second target: 0.7370.
2. Risk Management:
Place stop loss at 0.6500 to avoid any sudden reversal.
Remember that the market may retest the triangle line before breaking out higher.
3. Long-term strategy:
If the price manages to break 0.7370 steadily, we may witness a new journey towards 0.8000 levels and beyond.
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Inspiring and concise:
The market is in a state of transition; buyers are coming back in force, but success depends on the trader who sees opportunities clearly and takes them boldly.
Remember, “Trading is a combination of patience, vision, and logical analysis. Don't hesitate, profits await those who dare!”
