#goatseusmaximus #risingwedge #Write2Earn! #BinanceSquareFamily

#Goatseus

In the analysis of GOATSEUS MAXIMUS, a **rising wedge pattern** has been identified, which typically signals a bearish reversal. This suggests that the coin could experience a **short-term decline** once the wedge breaks downward.

Key Support and Resistance Levels :

- Support : $0.18047 (critical zone for rebound or consolidation)

- Resistance :

-Short-term : $0.58642 (ideal for profit-taking if price rises)

-Long-term : $0.99652 (potential for a new All-Time High after the short-term drop)

Volume and Momentum Indicators :

- Volume :

At 909.922K, indicating strong market interest. A breakout will need significant volume increase for confirmation.

- Divergence :

VMC B Divergences indicate a weakening momentum, hinting at a short-term drop.

- RSI (56.43) :

Neutral, not signaling overbought or oversold conditions.

- Stochastic RSI (94.16) :

Overbought, suggesting a pullback soon.

- Hull Moving Average Histogram (-0.00315) :

Slight bearish momentum, supporting the short-term decline forecast.

Trading Plan :

1. Scenario 1 : Short-Term Decline and Rebound

- Entry : Short position if price breaks below $0.50-$0.52, aiming for support at $0.18047.

- Stop-Loss : Set above $0.58642 to protect against sudden breakouts.

- Target : Profit at $0.18047 with RSI falling below 50 for confirmation.

2. Scenario 2 : Upward Breakout After Decline

- Entry : Long position after decline, if support holds at $0.18047, forming a bullish reversal.

- Stop-Loss : Set below $0.18047 for protection.

- Target : First at $0.58642, then $0.99652 for a potential new ATH.

Conclusion and Advice :

GOATSEUS MAXIMUS is currently in a rising wedge, indicating a likely **short-term decline**. However, after this pullback, the coin has the potential for a strong **bullish reversal**, with the possibility of reaching a new all-time high of **$0.99652**. Traders should be cautious and follow the technical indicators closely, using proper **risk management** to navigate the market volatility.

Trade carefully, manage risk, and monitor key levels for potential profit opportunities!