$POLYX The H4 chart shows signs of accumulation, converging upwards.
Currently, it is still accumulating a bullish flag pattern, and it needs to close above the resistance zone of 465-470 to initiate an upward wave towards the area of 510-515. The area of 510-520 is always a confluence of diagonal resistance.
It is also uncertain whether it will be a corrective wave or a new bullish wave. Yesterday's daily candle was a quite beautiful green hammer. It is currently at support, so I think the likelihood of a breakout is quite high.
To initiate a new bullish wave, it needs to close a 3D candle above the area of 500 to break the diagonal trendline. At that point, there could be at least a wave up to the area of 750, and if strong enough, it could go up to 1000-1100.
Currently, it is still accumulating a bullish flag pattern, and it needs to close above the resistance zone of 465-470 to initiate an upward wave towards the area of 510-515. The area of 510-520 is always a confluence of diagonal resistance.
It is also uncertain whether it will be a corrective wave or a new bullish wave. Yesterday's daily candle was a quite beautiful green hammer. It is currently at support, so I think the likelihood of a breakout is quite high.
To initiate a new bullish wave, it needs to close a 3D candle above the area of 500 to break the diagonal trendline. At that point, there could be at least a wave up to the area of 750, and if strong enough, it could go up to 1000-1100.