In Granules after a period of uncertainty or consolidation, the price has recently hit a low point and has exhibited promising indications of a reversal. This is evident as the price has broken upwards, indicating a shift in market sentiment.
During this time, a pattern known as a Bottom Triangle has formed, characterized by two trendlines that converge. As prices reach lower highs and higher lows, it reflects a balancing act between buyers and sellers. This has resulted in a narrowing price range and diminishing trading volume, indicating market participants' uncertainty about the next direction.
However, before the triangle pattern reaches its apex (the point where the trendlines converge), there has been a notable breakthrough. The price has successfully surpassed the upper trendline with a significant increase in trading volume. This occurrence provides strong confirmation of a bullish reversal, suggesting a shift from the previous downtrend.
In summary, recent market conditions have demonstrated a potential reversal as the price has reached a bottom and subsequently broken upwards after a period of uncertainty or consolidation. This pattern is characterized by a Bottom Triangle, where two trendlines converge while the price forms lower highs and higher lows. As the price breaks above the upper trendline with increased trading volume, it signifies a bullish reversal, marking a shift from the prior downtrend.
Note for everyone who came across this reference:
During this time, a pattern known as a Bottom Triangle has formed, characterized by two trendlines that converge. As prices reach lower highs and higher lows, it reflects a balancing act between buyers and sellers. This has resulted in a narrowing price range and diminishing trading volume, indicating market participants' uncertainty about the next direction.
However, before the triangle pattern reaches its apex (the point where the trendlines converge), there has been a notable breakthrough. The price has successfully surpassed the upper trendline with a significant increase in trading volume. This occurrence provides strong confirmation of a bullish reversal, suggesting a shift from the previous downtrend.
In summary, recent market conditions have demonstrated a potential reversal as the price has reached a bottom and subsequently broken upwards after a period of uncertainty or consolidation. This pattern is characterized by a Bottom Triangle, where two trendlines converge while the price forms lower highs and higher lows. As the price breaks above the upper trendline with increased trading volume, it signifies a bullish reversal, marking a shift from the prior downtrend.
Note for everyone who came across this reference:
- This chart analysis is only for reference purpose.
- This is not buying or selling recommendations.
- I am not SEBI registered.
- Please consult your financial advisor before taking any trade.
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Educational Target closed!! further upside no analysis done!