Alikze »» ALPHA | Movement in the descending channel

Oct 20

🔍 Technical analysis: Movement in the descending channel

- In the 1D and 1W time frames, it is moving in a descending channel.

- It has encountered support in the range of the green box.

- Due to the change in structure and behavior in the 1D time frame, it can have an upward movement up to the limit of the ceiling of the descending channel.

💎 If the current rising wave is accelerated, after hitting the first supply area which is the neck line of the previous corrective wave, it can continue the upward trend after a temporary correction to the next supply area.

⚠️In addition, if the floor of the previous range is touched, the bullish scenario will be invalidated and must be reviewed and updated again.⚠️
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ALPHAUSDT

Oct 22

Note

After a temporary correction, it has met with demand, which has grown by more than 70% so far and is currently in the supply zone.