NOTCOIN→ just a hunt candle!
hello guys...
let's analyze NOTCOIN!
1. Descending Wedge Pattern:
- The chart shows a descending wedge pattern, which typically indicates a potential bullish reversal.
- The price has been consistently making lower highs and lower lows, but it is approaching the wedge's bottom line, suggesting a possible breakout if buying pressure increases.
2. Support and Resistance:
- Support (Hunt Area): The price recently touched the bottom of the wedge and the labeled "hunt area," which indicates a potential support zone where buyers might step in.
- Resistance (Gray Area): The price is approaching a resistance zone marked in gray. A close above this area could trigger a move higher toward the top line of the wedge, around the $0.0145 level.
3. Potential Scenario:
- If the price closes above the gray resistance area, it could move upwards, testing the top line of the wedge.
- If the price fails to close above this area, it might continue to trade within the wedge or test the support levels again.
4. Bullish Outlook:
- A breakout above the top line of the wedge would be a strong bullish signal, potentially leading to a significant upward move.
Summary:
- Watch the Gray Area: A close above this could signal further gains.
- Potential Breakout: A break above the top line of the wedge could confirm a bullish reversal.
- Downside Risk: If resistance holds, the price may continue consolidating or retest lower support levels.
Keep an eye on the volume and market sentiment for more confirmation.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
let's analyze NOTCOIN!
1. Descending Wedge Pattern:
- The chart shows a descending wedge pattern, which typically indicates a potential bullish reversal.
- The price has been consistently making lower highs and lower lows, but it is approaching the wedge's bottom line, suggesting a possible breakout if buying pressure increases.
2. Support and Resistance:
- Support (Hunt Area): The price recently touched the bottom of the wedge and the labeled "hunt area," which indicates a potential support zone where buyers might step in.
- Resistance (Gray Area): The price is approaching a resistance zone marked in gray. A close above this area could trigger a move higher toward the top line of the wedge, around the $0.0145 level.
3. Potential Scenario:
- If the price closes above the gray resistance area, it could move upwards, testing the top line of the wedge.
- If the price fails to close above this area, it might continue to trade within the wedge or test the support levels again.
4. Bullish Outlook:
- A breakout above the top line of the wedge would be a strong bullish signal, potentially leading to a significant upward move.
Summary:
- Watch the Gray Area: A close above this could signal further gains.
- Potential Breakout: A break above the top line of the wedge could confirm a bullish reversal.
- Downside Risk: If resistance holds, the price may continue consolidating or retest lower support levels.
Keep an eye on the volume and market sentiment for more confirmation.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Note
notcoin in daily time frame close upper than gray area.
it is great news for those who hold and have a long position!
👉my recommended broker:
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
bit.ly/HYCM-M
__________
👉my recommended exchange:
bit.ly/LbankMelika
__________
My telegram channel:
t.me/melikatrader94
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