Alikze »» IO | Descending channel
Updated
🔍 Technical analysis: Descending channel
- In the analysis of the post presented earlier, it was moving in an ascending channel in the 1h time frame, which was corrected after failing to break the supply zone and touched the bearish target.
- Now it is moving in a descending channel in the 8h time frame.
- According to the behavior and structure, it is forming a double hybrid modification.
- Therefore, I expect that after hitting the ceiling of the channel, which can form a corner pattern, it will encounter an increase in supply again and complete the last leg to the minimum floor of the channel and then to the Buyer Zone.
💎 Alternative scenario: If it can break the zone considering that it has an Ingalf candle at the bottom of the channel, it can increase to 0.23 fibo of its previous wave. If the behavior and structure of the post changes, it will be updated.
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IOUSDT
- In the analysis of the post presented earlier, it was moving in an ascending channel in the 1h time frame, which was corrected after failing to break the supply zone and touched the bearish target.
- Now it is moving in a descending channel in the 8h time frame.
- According to the behavior and structure, it is forming a double hybrid modification.
- Therefore, I expect that after hitting the ceiling of the channel, which can form a corner pattern, it will encounter an increase in supply again and complete the last leg to the minimum floor of the channel and then to the Buyer Zone.
💎 Alternative scenario: If it can break the zone considering that it has an Ingalf candle at the bottom of the channel, it can increase to 0.23 fibo of its previous wave. If the behavior and structure of the post changes, it will be updated.
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Best Regards,❤️
Alikze.
»»»«««»»»«««»»»«««
IOUSDT Note
Following the failure of the descending channel and the money to the structure, the demand has now touched the fibuin range of 0.23. Note
After the bullish target has been touched by forming a double top pattern, the bearish target has been touched. In the Buyer Zone, there has been a demand that has grown by 96%. 
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