LUKSO / TetherLong
Is LUKSO About to Explode? Spotting a Bullish Falling Wedge!
A falling wedge is a bullish chart pattern often signaling an upward breakout. It forms as price makes lower highs and lower lows within converging trendlines, with volume decreasing over time.
Key Points:
Breakout Direction: Falling wedges typically break upward, with a 65-75% chance in downtrends (reversal) and even higher in uptrends (continuation).
Volume: A breakout is more reliable when accompanied by increasing volume.
Target: Measure the wedge’s height and add it to the breakout point to estimate the price target.
When to Buy:
Buy when the price breaks above the upper trendline and closes with strong volume.
Alternatively, place a limit order slightly above the trendline to catch the breakout.
When to Sell:
Sell at the target price (calculated from the wedge's height).
Consider taking partial profits near resistance levels or if momentum weakens.
Set a stop-loss below the lower trendline to manage risk.
In the chart, the price is nearing the upper trendline. Watch for a breakout with volume confirmation before entering!
Key Points:
Breakout Direction: Falling wedges typically break upward, with a 65-75% chance in downtrends (reversal) and even higher in uptrends (continuation).
Volume: A breakout is more reliable when accompanied by increasing volume.
Target: Measure the wedge’s height and add it to the breakout point to estimate the price target.
When to Buy:
Buy when the price breaks above the upper trendline and closes with strong volume.
Alternatively, place a limit order slightly above the trendline to catch the breakout.
When to Sell:
Sell at the target price (calculated from the wedge's height).
Consider taking partial profits near resistance levels or if momentum weakens.
Set a stop-loss below the lower trendline to manage risk.
In the chart, the price is nearing the upper trendline. Watch for a breakout with volume confirmation before entering!
Note
LUKSO is a cutting-edge blockchain platform created by Fabian Vogelsteller, ETHEREUM OG , co-founder of ERC-20, a standard that revolutionized crypto. With a low market cap and fully developed products built over 4 years, LUKSO pioneers true innovation with account abstraction, decentralized identity, digital assets, and creator-driven economies. This isn’t just potential—it’s ready to reshape the blockchain space today.
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.