📈 "CVX/USDT: Squeezing for a Breakout?"

Date: August 8, 2025

$CVX

Pair: CVX/USDT (Perpetual Futures)

Timeframe: 4H

Position Potential: LONG

🧩 Candlestick Pattern Observed:

✅ Bullish Continuation Pattern: Inside Bar Formation

The last two candles are forming an inside bar – price compression, lower highs and higher lows – right after a moderate bullish rally. This often signals a potential breakout to the upside, especially if confirmed by volume and indicator alignment.

📊 Technical Indicators Insight:

Bollinger Bands: Price is nearing the upper band, indicating momentum and volatility building up for a potential breakout.

EMA 50 & EMA 200: Price is trading above both EMAs (Golden Cross), reinforcing bullish sentiment.

Stochastic RSI: Reading at 87.41 / 80.61, both lines in the overbought zone but still trending upward—suggesting strong momentum; a minor retracement might happen before continuing up.

OBV (On-Balance Volume): Gradually rising, supporting bullish continuation.

💡 Strategy Recommendation:

Action : Long

Entry Price : ~$4.49 – $4.51

Stop Loss : $4.32 (below EMA50)

TakeProfit : $4.85 / $5.00

Confirmation trigger: Wait for candle close above $4.60 on strong volume to confirm breakout from inside bar.

🌍 Internal & External Factors:

Internal: Volume is increasing on green candles, showing accumulation. Price structure is forming higher lows, a bullish structure.

External: Market-wide sentiment is risk-on today; BTC and ETH also showing bullish setups.

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#CVX #BinanceFutures #cryptotrading #altcoins #BinanceSquare