Analysis: Combined Tools
1. Chart Patterns (Technical Patterns)
From late 2022 to early 2024, we can see a falling wedge forming — a bullish reversal pattern. It eventually broke out upward around late 2023.
Post-breakout, price attempted to rally but failed to sustain above key levels (~$9-$10), showing weakness.
2. Candlestick Patterns
January 2024: Strong bullish engulfing pattern (after prolonged downtrend) = signal for reversal.
March 2025 (current): A red candle with small body after several red candles indicates potential base-building or a pause in the bearish move.
3. CRT (Compression, Reversal, Trend)
Compression between late 2022 to early 2023 (small candles, low volume).
Reversal hinted late 2023 with breakout and volume spike.
Trend is currently sideways/bearish — no strong follow-through.
4. Support and Resistance
Support Zones: $3.60–$4.00 (historical bounce zones).
Resistance Zones: $6.80–$7.20 and $9.50–$10.00.
5. Order Blocks
Bullish OB: Around $3.60–$4.00 (April 2023 candle).
Bearish OB: Near $9.50–$10.00 (Feb 2024 supply zone).
6. Fair Value Gaps (FVG)
FVG (imbalance) seen between $6.80–$7.40 from Jan-Feb 2024. Price could revisit to fill this.
7. Price Action
Price is making lower highs and lower lows, showing bearish structure.
However, there’s accumulation-like behavior between $3.50–$4.50.
✅ Trade Setup Based on Above Tools
Entry: $4.10–$4.30 (near support, bullish OB).
Stop-Loss: Below $3.50 (strong invalidation level).
Take-Profit 1: $6.80 (gap fill / first resistance).
Take-Profit 2: $9.60 (major supply zone).
1. Chart Patterns (Technical Patterns)
From late 2022 to early 2024, we can see a falling wedge forming — a bullish reversal pattern. It eventually broke out upward around late 2023.
Post-breakout, price attempted to rally but failed to sustain above key levels (~$9-$10), showing weakness.
2. Candlestick Patterns
January 2024: Strong bullish engulfing pattern (after prolonged downtrend) = signal for reversal.
March 2025 (current): A red candle with small body after several red candles indicates potential base-building or a pause in the bearish move.
3. CRT (Compression, Reversal, Trend)
Compression between late 2022 to early 2023 (small candles, low volume).
Reversal hinted late 2023 with breakout and volume spike.
Trend is currently sideways/bearish — no strong follow-through.
4. Support and Resistance
Support Zones: $3.60–$4.00 (historical bounce zones).
Resistance Zones: $6.80–$7.20 and $9.50–$10.00.
5. Order Blocks
Bullish OB: Around $3.60–$4.00 (April 2023 candle).
Bearish OB: Near $9.50–$10.00 (Feb 2024 supply zone).
6. Fair Value Gaps (FVG)
FVG (imbalance) seen between $6.80–$7.40 from Jan-Feb 2024. Price could revisit to fill this.
7. Price Action
Price is making lower highs and lower lows, showing bearish structure.
However, there’s accumulation-like behavior between $3.50–$4.50.
✅ Trade Setup Based on Above Tools
Entry: $4.10–$4.30 (near support, bullish OB).
Stop-Loss: Below $3.50 (strong invalidation level).
Take-Profit 1: $6.80 (gap fill / first resistance).
Take-Profit 2: $9.60 (major supply zone).
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.
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.