Watching WAL today — simple plan: keep it and take profit when momentum comes. The chart is steady, buyers slowly stepping in, and the setup looks healthy.
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This is the BTC daily analysis chart In the chart, it can be seen that the overall shape trend has formed a spreading triangle pattern. BTC has been creating historical highs from a starting point in July to October. Each pullback has not been able to break below the starting point, which is the resonance support level of 106990 shown in the chart. So far in September, it is clearly visible that a head and shoulders pattern has formed. The left shoulder was formed in mid-September, and now we are looking at the right shoulder forming at the local resistance level of 112459, or still at the upper resistance level of 117071. Next, we can try to short near the local resistance level of 112459. If it breaks through the local resistance level of 112459, we will look to layout a short position at the upper resistance level of 117071, with the target still being the lower resonance support level of 106990 from July as the exit point. If it breaks below the support level of 106990, we can try to hold and see if it breaks the 100000 mark. The above is a personal opinion and does not constitute investment advice! Financial management has risks, and investment should be cautious!
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