ETCUSDT is currently displaying a double bottom formation, which is a classic technical indicator often associated with a reversal of the prevailing downtrend. In conjunction with this pattern, there has been a recent upward breach of a descending trendline, further reinforcing the bullish outlook.
The 'bull area of interest' mentioned refers to a zone that is deemed attractive for accumulation. The rationale behind this is that after breaking out from the trendline, the price often retests it, which in this case is expected to serve as a pullback target where the market may seek to confirm the trendline's role reversal from resistance to support.
The immediate upside objective is identified as the 'potential neckline' of the double bottom pattern. This level is significant because a decisive break above it would confirm the double bottom formation, suggesting a strong possibility of continued bullish momentum. Beyond the neckline, the 'supply level' indicated on the chart represents the next target for profit-taking.
We welcome your thoughts on this analysis and encourage you to acknowledge our efforts by liking this post if you find it insightful.
Thank you for your engagement and feedback.
The 'bull area of interest' mentioned refers to a zone that is deemed attractive for accumulation. The rationale behind this is that after breaking out from the trendline, the price often retests it, which in this case is expected to serve as a pullback target where the market may seek to confirm the trendline's role reversal from resistance to support.
The immediate upside objective is identified as the 'potential neckline' of the double bottom pattern. This level is significant because a decisive break above it would confirm the double bottom formation, suggesting a strong possibility of continued bullish momentum. Beyond the neckline, the 'supply level' indicated on the chart represents the next target for profit-taking.
We welcome your thoughts on this analysis and encourage you to acknowledge our efforts by liking this post if you find it insightful.
Thank you for your engagement and feedback.
Trade active
Trade active
Trade active:
Recall that following the successful price breakout we discussed, a pullback occurred, albeit not markedly significant.
Consequently, this necessitates the proposal of an alternative buy-back zone, emphasizing the area for prolonged re-accumulation.
The stop-loss order should be positioned below the previously identified double bottom formation.
Consequently, this necessitates the proposal of an alternative buy-back zone, emphasizing the area for prolonged re-accumulation.
The stop-loss order should be positioned below the previously identified double bottom formation.
📍ATTENTION!
BEWARE OF FAKE CHANNEL & SCAMMER🎯
Official Channel: t.me/+m0IACMn0ul03OTFk ✅
REAL Weslad: t.me/WESLAD ✅
For premium Zone: t.me/wcsepayment ✅
@WESLAD WILL NOT SEND YOU MESSAGE FIRST. ❌
BEWARE OF FAKE CHANNEL & SCAMMER🎯
Official Channel: t.me/+m0IACMn0ul03OTFk ✅
REAL Weslad: t.me/WESLAD ✅
For premium Zone: t.me/wcsepayment ✅
@WESLAD WILL NOT SEND YOU MESSAGE FIRST. ❌