The chart you provided is of BRETT/USDT on the 1D (daily) timeframe from TradingView. The candlestick pattern at the current price action suggests a potential “9” count from the TD Sequential indicator, which often signals a possible reversal or exhaustion of the trend.
Candlestick Pattern Analysis:
• The current formation shows small green candles after a strong downtrend.
• This could indicate a short-term reversal or consolidation.
• The TD Sequential “9” suggests that the bearish trend might be weakening.
• The RSI and Stochastic RSI are in the oversold zone, which further supports a possible bounce.
Possible Scenarios:
1. Bullish Case: If the price breaks above the previous resistance (~0.05-0.06 USDT), we could see a relief rally.
2. Bearish Case: If it gets rejected at the trendline resistance, the downtrend could continue.
Final Thoughts:
The chart suggests a potential short-term reversal, but confirmation is needed. Watching for a higher low and increased volume could validate a trend change. Let me know if you need further insights!
