Yello Paradisers! #PYTH has formed an Inverse Head & Shoulders pattern, which is a strong bullish reversal pattern, increasing the probability of an upward move.

💎If #PYTHUSDT manages to break out and close a candle above the resistance zone, it will confirm the pattern and significantly strengthen the bullish bias. A decisive breakout with good volume will further support the move and increase the likelihood of continuation to higher levels.

💎In case the price retraces before breaking out, we can expect a potential bounce from the support zone. However, for this bounce to be valid, we need to see a bullish Internal Change of Character (I-ChoCH) on the lower timeframe. This will signal a shift in momentum and give early confirmation of buyers stepping in.

💎On the other hand, if PYTHUSDT breaks down and closes a candle below the support zone, it will invalidate the bullish setup. In that case, the best approach would be to step back and wait for a better price action structure to develop before taking any positions.

Patience and confirmation are key to avoiding false moves and ensuring a higher probability trade setup.

MyCryptoParadise

iFeel the success🌴