1 Hour Timeframe Chart, Candle, and Trend Analysis for PI/USDT๐ช๐ช๐ช
Key Observations:
Trend Analysis:
The price is moving within an ascending channel, as indicated by the green trendlines.The price has broken above a key resistance level (red horizontal line) and is currently retesting the breakout.The Volume Profile Visible Range (VPVR) on the right shows a high trading volume around the 1.40โ1.50 USDT range, meaning strong support in this zone.
Candle Analysis:
The last few candles show strong bullish momentum with higher highs and higher lows.A long wick on the previous candle suggests that sellers tried to push the price down, but buyers regained control.The current candle is bullish and trading above the trendline.
Indicators:
The Linear Regression Channel is pointing upward, indicating an ongoing uptrend.The price is moving above the midline of the channel, meaning the trend is strong.No clear signs of reversal yet.
Should You Hold Your Buying Position?
Bullish Scenario: If the price stays above 1.50 USDT and continues to follow the ascending channel, your buying position is still valid.
Bearish Scenario: If the price falls below 1.45 USDT, it could indicate a false breakout, and you might consider setting a stop-loss to minimize risk.
Recommendation:
โ
Hold your position as long as the price stays above 1.50 USDT.
๐ If it breaks 1.60 USDT, you could see further upside.
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