Bandbtc is currently showcasing a falling wedge formation on the chart, with the price rebounding consistently from the bottom trendline. Considering the wedge's contraction, the setup suggests an imminent price breakout.
The immediate level to monitor is the internal supply zone (ISZ), anticipated to act as robust resistance. However, post-breakout, the price is expected to exhibit significant strength, potentially allowing it to breach the ISZ after initial testing.
The chart indicates a strong accumulation zone, presenting an opportune area for buyers to accumulate positions. To manage risk, it's advisable to implement stop-loss orders in case of unexpected price movements.
It's an essential risk management tool to protect against adverse market movements. Don't forget to hit the 'like' button if you find this analysis helpful.
Your feedback and comments are appreciated. Thank you.
Thank you for sharing your analysis. I have some bags from your previous chart for this. Thanks for the update.
weslad
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@Shak-Crypto, BTC.D is showing weakness as it approaching strong resistance. So Alt BTC should have time for moving in the nearest days or week to come.