Analysis of the POL/USDT pair on the one-hour timeframe from the attached image:
1. The technical model:
The chart you drew clearly represents a Double Bottom pattern, which is a bullish reversal pattern.
The two bottoms are close in terms of price and time, which gives the model credibility.
The neckline is located near 0.2436 – and has currently been broken.
Conclusion: The model is drawn correctly and supports the buying idea.
2. Price action (candles):
After breaking the neckline, the candles began to hold above it, but there is still no strong confirmation of the continuation of the breakout.
The last candle shows hesitation, indicating a possible return to test the neckline.
3. Technical indicators:
MACD: The blue line crossed above the orange line with green bars appearing, a positive signal.
Stochastic RSI (although partially hidden): It also seems to be in an upward area.
4. Entry scenarios:
A. In case of buying:
Buy (LONG) trade after retesting the neckline (0.2430 – 0.2435).
First target: 0.2500
Second target: 0.2628 (based on the expected target from the double bottom model).
Stop loss: below 0.2400
B. In case of failure:
If the price breaks the neckline downwards and closes below it, the scenario turns into a sell (SHORT) trade.
Target: 0.2330 – 0.2300
Stop loss: 0.2450
Summary:
The technical model is valid and supports the bullish trend.
The positive scenario is the closest, but it is preferable to wait for the retest of the neckline (0.2430) for a safe entry.
Current recommendation: Wait for the retest then enter a buy trade.
Do you want me to specify an exact entry point based on the retest or do you want to analyze the larger timeframe as well (e.g., 4 hours or daily)? Just let me know in the comments and we will open.
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