What we see here is the 4-hour chart, we had a clean break out of this rectangular pattern which signals bullish momentum. After breaking out we tested the top of the rectangle as support and so far we’re holding very well!
This 4-hour candle closure is incredibly bullish and decent gains seem to be ahead of us.
The fact that we’re holding on this support signals that we may have finally reached the bottom and are currently seeing a trend reversal.
At a time where everyone is finally saying that “Alts are dead” this reversal seems very likely..
As Warren Buffet said, “Be greedy when others are fearful and be fearful when others are greedy”
The daily time frame is also looking incredibly bullish, We can see here that there was a clean break to the upside out of the rectangular pattern. We can also see a very bullish three white soldiers pattern, this is a 3 candlestick pattern that indicates strong bullish pressure.
The three white soldiers pattern is shown here, as well as a zone where price has previously found resistance. This could potentially be a target zone.