SONIC Analysis - What Shall we Expect !!!The price is within an ascending wedge and this can be a bullish signal for SONIC. However, we need to wait for this wedge to be broken and then wait for the price to rise. Currently, the price can be bearish because more funds have been injected into Bitcoin to allow Bitcoin to find more stability in the coming days.
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The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
SONICUSDT
SONIC buy/long setup (4H)In hourly timeframes, SONIC appears to be forming a diamond-shaped diametric pattern.
Each leg of this diametric lasts between 9 to 31 days, and each drop within the pattern ranges from 33% to 41%.
The E wave could potentially complete within the green zone, after which the F wave may move upward, resulting in a 30%–40% bounce.
Closing a daily candle below the invalidation level will invalidate this analysis.
For risk management, please don't forget stop loss and capital management
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