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JUPUSD Breakout Incoming?
Jupiter is in an accumulation phase with support and resistance being established neatly for the most part inside the falling wedge pattern shown. Previous selloffs below support have proven to be transitory events, with bulls showing resilience by reestablishing support above 0.0108 each time.
Look for breakout confirmation at 4-hour close with a bullish engulfing green candle, resulting in a possible pump to half the distance from previous swing high and low, as represented by the 'flagstaff', to ≈ .01586.
I’d unload JUP if it falls below previous swing low @ ≈ .092 and stack it if it surmounts previous swing high at .018 for a likely retest of .0123, .0125, and after that, .0136. or higher.
Look for breakout confirmation at 4-hour close with a bullish engulfing green candle, resulting in a possible pump to half the distance from previous swing high and low, as represented by the 'flagstaff', to ≈ .01586.
I’d unload JUP if it falls below previous swing low @ ≈ .092 and stack it if it surmounts previous swing high at .018 for a likely retest of .0123, .0125, and after that, .0136. or higher.
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