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š Technical Analysis of the asset C/USDT: Descending Wedge š
The chart is forming a "descending wedge" pattern, which is often considered a bullish reversal pattern. Two converging downward trend lines narrow the price movement ā a potential signal for a breakout upward.
š Indicators:
MA 7, 25, 99: The price is below all MAs, confirming a downward trend; however, MA 7 crosses MA 25 from below to above ā a possible early reversal.
Ichimoku: Price is below the cloud, which strengthens the bearish scenario. Chikou Span is below the price - the trend is still downward. However, the thin cloud m
The chart is forming a "descending wedge" pattern, which is often considered a bullish reversal pattern. Two converging downward trend lines narrow the price movement ā a potential signal for a breakout upward.
š Indicators:
MA 7, 25, 99: The price is below all MAs, confirming a downward trend; however, MA 7 crosses MA 25 from below to above ā a possible early reversal.
Ichimoku: Price is below the cloud, which strengthens the bearish scenario. Chikou Span is below the price - the trend is still downward. However, the thin cloud m