đAnalysis of the of CYBERUSDT Chart đ
Wyckoff Accumulation Structure đ
chart presents a Wyckoff Accumulation structure, Here, the price is consolidating after a downtrend, indicating potential accumulation by buyers before a breakout.
Key Phases:
âą Preliminary Support (PS): Initial support formed as the selling pressure weakens.
âą Selling Climax (SC): The lowest point in the structure, where strong buying steps in.
âą Automatic Rally (AR): A bounce after the selling climax, marking a change in sentiment.
âą Secondary Test (ST): A retest of the SC level to confirm support.
Spring and Price Objective (POI) âĄ
The Spring signifies a false break of support to shake out weak hands, followed by a quick reversal. The price currently hovers around the POI (Point of Interest), which is in the demand zone.
Price Targets đŻ
âą First Target (TR): Around $3.051, where the price may face minor resistance.
âą Second Target: Around $3.897, representing a longer-term bullish objective, indicated by the arrow.
Invalidation Level â ïž
The yellow line at $2.663 is the invalidation level. If the price drops below this level, the bullish structure may be compromised.
Summary:
âą Short-term bullish after a Spring, with targets at $3.051 and $3.897.
âą Invalidation if the price breaks below $2.663.
$CYBER
{spot}(CYBERUSDT)
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