bullishrectangle

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A bullish rectangle pattern📈 is a technical analysis pattern that indicates a potential continuation of an upward trend in an asset's price. It's characterized by a period of sideways price movement within parallel support and resistance lines, forming a box-like shape, after a prior upward price surge. Essentially, the market pauses to consolidate before resuming its upward trajectory.

Here's a breakdown:
Prior Uptrend:
The pattern emerges after a sustained period of price increase.

Consolidation:
The price starts moving sideways, creating a rectangle pattern with horizontal support and resistance levels.
Sideways Movement:
Buyers and sellers are in a state of balance, with neither side gaining a clear advantage.

Potential Breakout:
Traders look for a breakout above the resistance line as a signal that the bullish trend is likely to continue.
Breakout Confirmation:
Increased trading volume during the breakout often confirms the bullish continuation.

Price Target:
The expected price move after the breakout can be estimated by projecting the height of the rectangle from the breakout point.

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temporary bounce #bullishrectangle #sol

$BTC

I might be wrong but I'm always bullish
regardless of a potential retracement at 53k still market will fly right after it revisit the bottom or who knows this might already be the bottom

#bullishrectangle #BTC🔥🔥🔥🔥