$HYPE is BREAKING OUT, $43.
Needs candle closes, LONG set-up ready, see the earlier analysis for details.
👽💙
This LONG set-up on $HYPE is getting closer to being ready today, still facing the toughest test before I get into a position.
The GARTLEY harmonic pattern on the 4-HOUR has been my main focus as a red flag even after a BULLISH PENNANT breakout (targetting $60+), and I simply need strong candle closes above the RIGHT 'shoulder' top, above $41 in order to invalidate that GARTLEY.
Right now the price action has been fighting with the 50 MA on 12-hour + 200 MA on 4-hour + a FALLING TRENDLINE. That's quite a conflunce of resistances right here.
So, in a nutshell, the main 12-hour chart is BULLISH, and the 4-HOUR chart is going to be fully BULLISH above immediate resistances, $43 close is a MUST, once done, I will start scaling in in tranches.
💙👽
The GARTLEY harmonic pattern on the 4-HOUR has been my main focus as a red flag even after a BULLISH PENNANT breakout (targetting $60+), and I simply need strong candle closes above the RIGHT 'shoulder' top, above $41 in order to invalidate that GARTLEY.
Right now the price action has been fighting with the 50 MA on 12-hour + 200 MA on 4-hour + a FALLING TRENDLINE. That's quite a conflunce of resistances right here.
So, in a nutshell, the main 12-hour chart is BULLISH, and the 4-HOUR chart is going to be fully BULLISH above immediate resistances, $43 close is a MUST, once done, I will start scaling in in tranches.
💙👽
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HYPEUSDT
Perp
38.78
-0.06%
