MUBARAK/USDT – Accumulation Ending? Double Bottom Signals Revers
📊 Technical Overview: After a prolonged downtrend and descending wedge, MUBARAK has entered a consolidation range — clear signs of accumulation. The price has now bounced twice off the key support level at $0.003484, forming a textbook double bottom.
📈 Key Bullish Signals:
✅ Strong horizontal support holding at $0.003484
✅ Double bottom formation within the range
✅ Decreasing sell volume suggests sellers are drying up
✅ Break above $0.0400 range resistance could trigger rapid upside
📌 Bullish Target:
Short-term: $0.0500
Mid-term: $0.0700 (if momentum confirms breakout)
⚠️ Risk Management:
Breakdown below $0.00348 = invalidation
Consider tight stop-loss just below support
📈 Key Bullish Signals:
✅ Strong horizontal support holding at $0.003484
✅ Double bottom formation within the range
✅ Decreasing sell volume suggests sellers are drying up
✅ Break above $0.0400 range resistance could trigger rapid upside
📌 Bullish Target:
Short-term: $0.0500
Mid-term: $0.0700 (if momentum confirms breakout)
⚠️ Risk Management:
Breakdown below $0.00348 = invalidation
Consider tight stop-loss just below support
Trade active
Idea invalidatedOrder cancelled
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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.
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.