🚀 $INIT is showing a potential technical setup!
The weekly chart for INIT/USDT displays a potential double bottom reversal structure forming after a prolonged corrective phase, currently testing higher levels around 0.08772.
📈 The Technical Setup:
• The Pattern: Double Bottom / W-Bottom Reversal
• Short-term Target: 0.1550 USDT
• Macro Objective: 0.1550 USDT
• Market Structure: Reversal / Accumulation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.0500 - 0.0550 USDT
• Resistance: 0.1000 USDT
• Breakout Level: 0.0900 USDT
• Stop Loss / Invalidation: 0.0480 USDT
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Strong bullish weekly continuation candles pushing upwards
• Trend: Transitioning from macro range consolidation to potential bullish reversal
⚠️ Invalidation:
A weekly close below the 0.0480 USDT swing low invalidates this bullish setup.
Monitor key resistance closely for a sustained breakout confirmation before entering heavy exposure.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#INIT #crypto #BinanceSquare #tradingview #TechnicalAnalysis
The weekly chart for INIT/USDT displays a potential double bottom reversal structure forming after a prolonged corrective phase, currently testing higher levels around 0.08772.
📈 The Technical Setup:
• The Pattern: Double Bottom / W-Bottom Reversal
• Short-term Target: 0.1550 USDT
• Macro Objective: 0.1550 USDT
• Market Structure: Reversal / Accumulation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.0500 - 0.0550 USDT
• Resistance: 0.1000 USDT
• Breakout Level: 0.0900 USDT
• Stop Loss / Invalidation: 0.0480 USDT
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Strong bullish weekly continuation candles pushing upwards
• Trend: Transitioning from macro range consolidation to potential bullish reversal
⚠️ Invalidation:
A weekly close below the 0.0480 USDT swing low invalidates this bullish setup.
Monitor key resistance closely for a sustained breakout confirmation before entering heavy exposure.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#INIT #crypto #BinanceSquare #tradingview #TechnicalAnalysis
