The previous three weeks all closed green and were perfect full bodied candles. This is a strong signal on its own. But REQUSDT (Request Network) didn't print this signal in isolation, it is coming after a hammer candlestick pattern which is also a short-term and long-term higher low. Makes sense?
The market bottom was hit in September 2023. The three white soldiers, as it is called in candlestick reading, is an action signal. It confirms an advance will happen and the hammer candlestick pattern is a reversal signal. The long-term higher lows is a chart structure signal and it can help us project how the pair in question will behave in the future.
With a strong chart structure, we can predict a strong bull market for this pair.
With the action and reversal signal, we can predict the start of the next bullish wave within days. It is already happening because three weeks closing green is a decent amount of time.
The resistance zone on this chart is well established. This resistance was confirmed in May 2022 with a full rejection on a candle. The again in October 2022 there was a strong attempt by the bulls to push prices higher but another failure it seems.
In March 2024 there was another rejection, a strong one because this one cancelled a bullish wave. The final rejection at this long-term resistance zone happened in December 2024.
While the resistance range stays the same, the support zone has been growing from its base (higher lows).
Ok, I will make my prediction now.
» On the next advance, which is part of the current bullish wave, REQUSDT will break this long-term resistance and challenge $0.70 as the first strong target. After this level is challenged there will be a correction followed by additional growth. This additional growth will lead to a new All-Time High as part of the 2025 bull market bull run.
Thank you for reading and for your continued support.
Namaste.
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