Blast breakout, retest needed before 220% target
Analysis:
BLAST has broken out of the wedge, which suggests a potential rally. Post-breakout, we often see a retest of the upper boundary of the wedge, which could offer a strong confirmation of the breakout. After the retest, price is expected to rally back towards the top of the pattern.
Entry Point:
DCA (Dollar-Cost Averaging) Entry Zone: Marked around $0.01012, this was an optimal entry point for traders looking to go long as the breakout began. It allowed traders to accumulate gradually as the price confirmed the wedge breakout.
Take Profit Levels:
Take Profit 1: Set at $0.01942, offering a 150% gain from the wedge breakout. This is the first major target, where traders could consider taking partial profits.
Take Profit 2: Positioned at $0.02469, representing a 220% gain from the wedge breakout. This level aligns with further resistance and could act as a final target for this trade.
Conclusion:
The chart suggests a strong bullish move following the breakout of the descending wedge. Targets of 150% and 220% gains are set, with a potential retest of the wedge boundary before a further rally. For those who missed the initial entry, keeping an eye on the retest for a new entry opportunity is crucial.
BLAST has broken out of the wedge, which suggests a potential rally. Post-breakout, we often see a retest of the upper boundary of the wedge, which could offer a strong confirmation of the breakout. After the retest, price is expected to rally back towards the top of the pattern.
Entry Point:
DCA (Dollar-Cost Averaging) Entry Zone: Marked around $0.01012, this was an optimal entry point for traders looking to go long as the breakout began. It allowed traders to accumulate gradually as the price confirmed the wedge breakout.
Take Profit Levels:
Take Profit 1: Set at $0.01942, offering a 150% gain from the wedge breakout. This is the first major target, where traders could consider taking partial profits.
Take Profit 2: Positioned at $0.02469, representing a 220% gain from the wedge breakout. This level aligns with further resistance and could act as a final target for this trade.
Conclusion:
The chart suggests a strong bullish move following the breakout of the descending wedge. Targets of 150% and 220% gains are set, with a potential retest of the wedge boundary before a further rally. For those who missed the initial entry, keeping an eye on the retest for a new entry opportunity is crucial.
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