The gathering of candlesticks (or price points) near the blue arrow in the chart indicates a critical intersection between:
🔻 A descending trendline from previous highs
🔺 An ascending support line from recent lows
📉 The current market price hovering between these two levels
This pattern is commonly known as a Triangle Apex or a pressure point, where the price is coiling up before a potential breakout.
Bullish Scenario:
If price breaks above the descending trendline and holds:
This would be a bullish breakout signal.
You might see a move toward the next resistance levels.
🔻 Bearish Scenario:
If price breaks below the ascending support line:
That would signal a bearish breakdown.
The price could fall toward lower support zones.
✅ A 4-hour or daily candle closing above the trendline → Bullish confirmation.
❌ A candle closing below support (e.g. below 0.0419) → Bearish confirmation.
