First we see a large pattern known in technical analysis as a bullish flag, characterized by an impulse and a retracement without losing the beginning of the impulse, however we observe that this pattern extends for about 98 days without a breakout or even a false breakout based on the 1-day time frame, we see that it is an asset that respects classical and graphic technical analysis with breakouts worked out in efficient ways and respecting graphic figures in ways that textbooks teach, today we had the first breakout of a symmetrical triangle or descending wedge pattern at 0. 08069. 08069, however in an analysis of orders we see a big player who sold absurd numbers of Brett at a price of 0. 0900 WHICH COMES INTO COFLUENCE WITH MY CONTROL ZONE identified on the chart which makes me consider with a statistical probability of 90% A SHORT IN THIS REGION PROTECTING ME WITH THEIR MONEY, however as we are professionals and do not act on the emotion of the moment without FOMO or FUD, we should wait based on the gf1 indicators for the loss of the level of 0. 07721 for a safe short with a high statistical probability of reaching the minimum level of the descending channel created since JUNE 7, 2024, knowing that this asset has little data for analysis in longer time frames, we have 1 day in an uptrend and 8 hours evolving into a downtrend, as 4 hours is the reversal time frame and it is losing buying strength, which underscores my thesis on this asset, in addition to the oscillator showing that it is in a clear and strong bear zone.
STRATEGIC SUMMARY:
AT THE MOMENT THE ASSET IS CLEARLY AUTISTIC ON A 1-DAY TIME FRAME, SELL IF IT LOSES 0.77221 WITH A TARGET AT 0.05866 WHICH IS THE OLD RANGE AND A SECOND TARGET AT 0.037 THE BASE OF THE BEARISH CHANNEL.
BUY IF IT BREAKS THROUGH 0.09582 AND SELL TARGET 1 AT 0.1173 AND TARGET 2 AT 0.25822.
STRATEGIC SUMMARY:
AT THE MOMENT THE ASSET IS CLEARLY AUTISTIC ON A 1-DAY TIME FRAME, SELL IF IT LOSES 0.77221 WITH A TARGET AT 0.05866 WHICH IS THE OLD RANGE AND A SECOND TARGET AT 0.037 THE BASE OF THE BEARISH CHANNEL.
BUY IF IT BREAKS THROUGH 0.09582 AND SELL TARGET 1 AT 0.1173 AND TARGET 2 AT 0.25822.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.