SCR / TetherUSLong
Three White Soldiers pattern at the bottom suggests a potential
Your TA looks solid, and the Three White Soldiers pattern at the bottom suggests a potential reversal to the upside. However, let’s break it down:
Bullish Case:
1. Three White Soldiers Pattern – This is a strong bullish reversal signal, especially after a prolonged downtrend.
2. Support Held at ~0.603 – The price reacted well from this level, forming a double-bottom structure.
3. Resistance at 0.965 – The first target should be around this level before looking at 1.4.
4. Volume Confirmation? – If increasing volume follows this pattern, it strengthens the case for an uptrend.
Bearish/Risky Case:
1. Overall Trend Still Down? – Despite the pattern, the overall structure is still bearish unless it breaks key resistances.
2. Low Market Momentum? – If the broader market is weak, this bounce could be a short-lived relief rally before another drop.
3. Liquidity Around 0.85 – 0.965 – A lot of sell-side pressure might come in at these levels.
Verdict:
• If volume picks up and BTC remains stable, I’d expect a move to 0.965 first, then possibly 1.4.
• If rejection happens below 0.85, market weakness prevails, and we retest 0.603 or even lower.
Let me know if you want a more detailed breakdown or alternative scenarios. 🚀
Bullish Case:
1. Three White Soldiers Pattern – This is a strong bullish reversal signal, especially after a prolonged downtrend.
2. Support Held at ~0.603 – The price reacted well from this level, forming a double-bottom structure.
3. Resistance at 0.965 – The first target should be around this level before looking at 1.4.
4. Volume Confirmation? – If increasing volume follows this pattern, it strengthens the case for an uptrend.
Bearish/Risky Case:
1. Overall Trend Still Down? – Despite the pattern, the overall structure is still bearish unless it breaks key resistances.
2. Low Market Momentum? – If the broader market is weak, this bounce could be a short-lived relief rally before another drop.
3. Liquidity Around 0.85 – 0.965 – A lot of sell-side pressure might come in at these levels.
Verdict:
• If volume picks up and BTC remains stable, I’d expect a move to 0.965 first, then possibly 1.4.
• If rejection happens below 0.85, market weakness prevails, and we retest 0.603 or even lower.
Let me know if you want a more detailed breakdown or alternative scenarios. 🚀
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.