TELUSDT Trading idea

Oct 12, 2024

TELUSDT is exhibiting a breakout above a potential falling wedge formation, indicating a bullish reversal signal.

The price appears to be aiming to complete the final leg of its corrective wave, suggesting a pullback towards the accumulation zone as part of the broader retracement structure. The price path suggests the immediate resistance level as a critical area to monitor.

Should price face rejection at this resistance, it could trigger a downward move, potentially retesting lower levels within the wedge or accumulation zone. However, a breakout above this resistance would invalidate the downside bias, confirming a shift in market sentiment and opening the door for further bullish continuation.

Mar 5

Trade active

As highlighted in the description, the immediate resistance level played a crucial role. Price broke above it, invalidating the bearish outlook, and has since stabilized, flipping it into strong support. Now, the focus shifts to the newly marked area of interest on the chart, which presents a promising re-accumulation zone.

Apr 26

Note

Price targeting a test towards the supply zone