🚨 Analysis: Will the Descending Wedge Break Out? Let's Dive In! 🚨
📊 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. Let’s explore the key scenarios ahead!
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Scenario 1: Bullish Breakout 🚀
🔹 Path 1: Current candle trajectory indicates the upper wedge resistance is at $1.00.
🔹 If $1.00 is broken:
1️⃣ Next resistance is at $1.03.
2️⃣ 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 🔻
🔹 If resistance at $1.00 holds, $USUAL might test the lower wedge between $0.82 - $0.85.
🔹 After this potential dip:
1️⃣ A bounce could target the upper wedge resistance between $0.90 - $0.92.
2️⃣ 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
📈 Resistance: $1.00 → $1.03 → New Highs
📉 Support: $0.85 → $0.92 → $0.96
⚠️ Important Note: Keep a close eye on BTC movements—its influence on could dictate the next big move.
💡 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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🔔 Will break out of the wedge? Stay tuned, and let’s ride the wave together!