ALPHA/USDT Break the Symmettrical Triangle, Bullish Momentum??
Yello Paradisers, Break Alert!
đź’ŽAlpha has broken the symmetrical triangle pattern on the 4H timeframe, and is currently in the retesting phase on the resistance-turned-support trendline of the symmetrical triangle. To avoid a false breakout, we need confirmation at a higher timeframe, as the 4H timeframe has already validated the breakout.
đź’Ž There is potential for the price to continue its upward movement and test the Bearish OB or supply area, which is crucial for Alpha. If Alpha successfully breaks the supply, it could easily continue to target profits 2. However, if it fails to do so, Alpha might revert back down.
đź’Ž If Alpha maintains its position above the key support in the daily timeframe, this scenario remains valid. However, if it loses this support, the scenario would be invalidated, and a re-evaluation of the market conditions would be necessary.
đź’ŽAlpha has broken the symmetrical triangle pattern on the 4H timeframe, and is currently in the retesting phase on the resistance-turned-support trendline of the symmetrical triangle. To avoid a false breakout, we need confirmation at a higher timeframe, as the 4H timeframe has already validated the breakout.
đź’Ž There is potential for the price to continue its upward movement and test the Bearish OB or supply area, which is crucial for Alpha. If Alpha successfully breaks the supply, it could easily continue to target profits 2. However, if it fails to do so, Alpha might revert back down.
đź’Ž If Alpha maintains its position above the key support in the daily timeframe, this scenario remains valid. However, if it loses this support, the scenario would be invalidated, and a re-evaluation of the market conditions would be necessary.
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