USUAL/USDT Rising Wedge – Bulls in Control, But Can It Hold?
🚀 Rising Wedge – Bulls in Control, But Can It Hold?
I'm currently long on USUAL/USDT as price moves within this rising wedge on the 1H chart. While this pattern often signals a potential breakdown, momentum is still strong for now.
📊 Key Observations:
🔹 Rising wedge pattern forming – typically bearish, but breakouts can happen.
🔹 MACD is bullish, showing momentum still favors the upside.
🔹 RSI is climbing, approaching overbought territory – watching for signs of weakness.
🔹 Volume increasing, signaling strong participation from buyers.
🎯 Trade Plan:
✅ Current long position targeting $0.2497 (potential breakout zone).
✅ If price breaks above resistance, we could see further upside towards $0.27+.
⚠️ However, if the wedge breaks down, key support sits at $0.22, with the measured move potentially dropping to $0.20 or lower.
🔥 Watching closely – will bulls hold, or is a reversal coming? Stop-loss in place to manage risk. Let’s see how this plays out!
Drop your thoughts below! 👇 Are you long or short on this move?
#Crypto #USUAL #Trading #PriceAction #TechnicalAnalysis #CryptoTrading #LongPosition
I'm currently long on USUAL/USDT as price moves within this rising wedge on the 1H chart. While this pattern often signals a potential breakdown, momentum is still strong for now.
📊 Key Observations:
🔹 Rising wedge pattern forming – typically bearish, but breakouts can happen.
🔹 MACD is bullish, showing momentum still favors the upside.
🔹 RSI is climbing, approaching overbought territory – watching for signs of weakness.
🔹 Volume increasing, signaling strong participation from buyers.
🎯 Trade Plan:
✅ Current long position targeting $0.2497 (potential breakout zone).
✅ If price breaks above resistance, we could see further upside towards $0.27+.
⚠️ However, if the wedge breaks down, key support sits at $0.22, with the measured move potentially dropping to $0.20 or lower.
🔥 Watching closely – will bulls hold, or is a reversal coming? Stop-loss in place to manage risk. Let’s see how this plays out!
Drop your thoughts below! 👇 Are you long or short on this move?
#Crypto #USUAL #Trading #PriceAction #TechnicalAnalysis #CryptoTrading #LongPosition
Trade active
Currently up 63%Trade closed: target reached
✅ Trade Closed – 83% Profit Secured!This trade has officially ended after getting stopped out in profit at 83%.
📊 What Happened?
🔹 Price reached my target at $0.2497, hitting a key resistance area.
🔹 Momentum started slowing down, as seen in the MACD and RSI.
🔹 A rejection from the wedge resistance led to a pullback, triggering my trailing stop.
🔹 While the wedge pattern suggested a potential breakout, sellers took control near the top.
⚡ Key Takeaways:
✅ Profit locked in – a successful trade overall.
✅ The market remains uncertain – watching for a potential breakdown if price loses key support.
✅ Patience and risk management paid off – securing gains before a reversal.
I'll be keeping an eye on the next setup. Let me know if you're still in or waiting for a re-entry! 👇
#Crypto #Trading #ProfitSecured #TechnicalAnalysis #RiskManagement #CryptoTrading
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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.