TradingShot

ORBSUSDT Could be on the verge of a huge bullish break-out

Long
KUCOIN:ORBSUSDT   Orbs / Tether
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For this particular analysis on Orbs we are using the ORBSUSDT symbol on the KuCoin exchange.
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The idea is on the 1D time-frame where ORBS has been bearish trading under a Lower Highs trend-line since the August 29 2021 High. At the same time it has recently tested and held the 0.03245 Support since the June 22 2021 Low. As the price is exhausting the available space, a break-out is approaching and since the pattern resembles more a Descending Triangle , we may see a bullish break-out above the Lower Highs.

The 1D MACD remains below the 0.00 neutral level and if a bullish break-out occurs, then the potential targets can be the Fibonacci extensions that follow. See how those have acted as Resistance levels (circles) throughout this Descending Triangle .


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