๐ Trade Setup Breakdown: MEGA/USDT (15m)
A Bear Pennant consolidation is currently active on the 15m chart for MEGA/USDT at 68.6% pattern maturity.
๐ Pattern Breakdown:
โข Structure: Bear Pennant (Continuation Pattern)
โข Impulse Drop: -2.3% (Flagpole)
โข Descending Resistance: 4 Touches
โข Flat Support Floor: 3 Touches (0.03725 USDT)
โข Current Zone: Compressing near support (0.03735 USDT)
๐ Key Observation:
Following an initial -2.3% decline, price action has formed lower highs pressing against horizontal support at 0.03725 USDT. A confirmed 15m candle breakdown below flat support with volume expansion signals potential trend continuation, whereas a move above descending resistance invalidates the setup.
โ ๏ธ DYOR - Not Financial Advice.
What is your bias on MEGA from this compression zone?
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