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Cryptocurrency News Articles
BIGTIME/USDT – Major Breakout Opportunity Ahead!
Oct 25, 2024 at 01:00 pm
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---$BIGTIME
🚀 BIGTIME/USDT – A Bullish Flag Forming On Lower Timeframes! 🚀
Let’s quickly check the recent price action of BIGTIME/USDT on the smaller timeframe. We can see a bullish continuation pattern forming here, presenting an interesting opportunity for traders! 📊
🔍 Market Overview:
Current Price: $0.1696 (+1.28%)
24H Volume: 1.78B (BIGTIME) / 307.33M (USDT)
24H High: $0.18848
24H Low: $0.15666
📈 Technical Analysis:
After forming the descending wedge pattern on the higher timeframe, which we discussed earlier, the price is now moving within a bullish continuation pattern on the lower timeframe.
This pattern, known as a bullish flag, is characterized by a sharp price movement followed by a period of consolidation, forming the 'pole' and 'flag', respectively. A breakout from the upper boundary of the flag is typically seen as a bullish signal.
In this case, the bullish flag is forming within the descending wedge, adding further bullish context to the price action. A breakout above the resistance could lead to a measured move toward the upside.
Resistance Zone: The upper boundary of the bullish flag is acting as the price resistance, around the $0.17 - $0.25 zone, which we identified earlier. A breakout from this zone could trigger further bullish momentum.
Support Levels: The lower boundary of the bullish flag is providing support around $0.14 - $0.15, preventing any significant price drops. This range is crucial for bulls to hold.
📊 Potential Breakout Targets:
If the price successfully breaks out above the resistance zone, we can measure the height of the bullish flagpole and project it from the breakout point to get potential targets, around:
$0.25
$0.30
These levels could act as the next logical points of resistance or potential targets for the breakout.
Keep in mind that the targets are just a possibility based on the technical pattern, and the actual price movement may vary.
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Conclusion: BIGTIME is forming a bullish continuation pattern on the lower timeframe, within the context of a larger descending wedge. A breakout above the resistance zone could spark a move toward the potential targets we identified.
What trading strategies are you considering here? Bullish or bearish? Share your thoughts in the comments!
#Crypto #BIGTIMEUSDT #BreakoutAnalysis #AltcoinTrading #TechnicalAnalysis #CryptoMarket #Altcoins
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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