Overview:
Wormhole is showing signs of a bullish breakout from a descending triangle pattern. Higher lows (pink trendline) indicate increasing buying pressure, and a breakout above the horizontal resistance could lead to significant upside.
Key Levels:
Breakout Point: Watch for a break and close above the resistance level with volume confirmation.
Targets:
T1: +55% gain based on the triangle’s height.
T2: +156% for the extended move.
T3: ?
Strategy:
Entry: On a breakout above resistance with volume confirmation.
Stop-Loss: Below the ascending pink trendline or triangle base.
Profit-Taking: Scale out at T1 and T2 levels.
Risks:
False breakout or lack of volume confirmation.
Unfavorable market conditions for altcoins.
This setup offers a strong risk/reward ratio for a bullish continuation if confirmed.
Disclaimer: Not financial advice. Trade responsibly!
Wormhole is showing signs of a bullish breakout from a descending triangle pattern. Higher lows (pink trendline) indicate increasing buying pressure, and a breakout above the horizontal resistance could lead to significant upside.
Key Levels:
Breakout Point: Watch for a break and close above the resistance level with volume confirmation.
Targets:
T1: +55% gain based on the triangle’s height.
T2: +156% for the extended move.
T3: ?
Strategy:
Entry: On a breakout above resistance with volume confirmation.
Stop-Loss: Below the ascending pink trendline or triangle base.
Profit-Taking: Scale out at T1 and T2 levels.
Risks:
False breakout or lack of volume confirmation.
Unfavorable market conditions for altcoins.
This setup offers a strong risk/reward ratio for a bullish continuation if confirmed.
Disclaimer: Not financial advice. Trade responsibly!
註釋
Idea is still valid.
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