Overview:
Wormhole is showing signs of a bullish breakout from a descending triangle pattern. Higher lows (pink trendline) indicate increasing buying pressure, and a breakout above the horizontal resistance could lead to significant upside.
Key Levels:
Breakout Point: Watch for a break and close above the resistance level with volume confirmation.
Targets:
T1: +55% gain based on the triangle’s height.
T2: +156% for the extended move.
T3: ?
Strategy:
Entry: On a breakout above resistance with volume confirmation.
Stop-Loss: Below the ascending pink trendline or triangle base.
Profit-Taking: Scale out at T1 and T2 levels.
Risks:
False breakout or lack of volume confirmation.
Unfavorable market conditions for altcoins.
This setup offers a strong risk/reward ratio for a bullish continuation if confirmed.
Disclaimer: Not financial advice. Trade responsibly!
Wormhole is showing signs of a bullish breakout from a descending triangle pattern. Higher lows (pink trendline) indicate increasing buying pressure, and a breakout above the horizontal resistance could lead to significant upside.
Key Levels:
Breakout Point: Watch for a break and close above the resistance level with volume confirmation.
Targets:
T1: +55% gain based on the triangle’s height.
T2: +156% for the extended move.
T3: ?
Strategy:
Entry: On a breakout above resistance with volume confirmation.
Stop-Loss: Below the ascending pink trendline or triangle base.
Profit-Taking: Scale out at T1 and T2 levels.
Risks:
False breakout or lack of volume confirmation.
Unfavorable market conditions for altcoins.
This setup offers a strong risk/reward ratio for a bullish continuation if confirmed.
Disclaimer: Not financial advice. Trade responsibly!
Not
Idea is still valid.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.