šØ Analysis: Will the Descending Wedge Break Out? Let's Dive In! šØ
š 4H Chart Overview:
is struggling to break resistance, moving within a descending wedge over the past few days. Historically, descending wedges tend to break upwards, hinting at a potential bullish reversal. Letās explore the key scenarios ahead!
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Scenario 1: Bullish Breakout š
š¹ Path 1: Current candle trajectory indicates the upper wedge resistance is at $1.00.
š¹ If $1.00 is broken:
1ļøā£ Next resistance is at $1.03.
2ļøā£ Clearing $1.03 could trigger an ascending wedge, paving the way for new highs in the coming days.
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Scenario 2: Downward Test š»
š¹ If resistance at $1.00 holds, $USUAL might test the lower wedge between $0.82 - $0.85.
š¹ After this potential dip:
1ļøā£ A bounce could target the upper wedge resistance between $0.90 - $0.92.
2ļøā£ Breaking $0.92 would push $USUAL toward $0.96, and breaking $0.96 opens the door to higher levels.
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Summary: Key Levels to Watch
š Resistance: $1.00 ā $1.03 ā New Highs
š Support: $0.85 ā $0.92 ā $0.96
ā ļø Important Note: Keep a close eye on BTC movementsāits influence on could dictate the next big move.
š” Pro Tips:
Manage Risks: Set stop-loss levels to protect your capital.
DYOR: Always do your own research before making decisions.
Stay Vigilant: Watch the charts and prepare for volatility!
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š Will break out of the wedge? Stay tuned, and letās ride the wave together!