SUSHIUSDT new bear leg is coming?

2023년 9월 7일

SUSHIUSDT appears to have formed an "M" pattern, which is often considered a bearish reversal pattern. In this pattern, there are two peaks, forming the letter "M," with a neckline connecting the two troughs.

As per Plancton's trading principles, a potential bearish scenario could be as follows:

Neckline Test: The price has tested the neckline, which is around the $0.6 area. This is not only a technical level but also a psychological one, as you mentioned. A breach below this level could be a significant signal.

Break of Support: If the price manages to break below the $0.580 support level, it could indicate a shift in market sentiment towards the bearish side. Breaking this support level is often seen as a confirmation of the bearish pattern.

Price Target: The next potential target, as per your description and Plancton's rules, could be around $0.54. This is often calculated by measuring the height of the M pattern from the neckline to the highest peak and then projecting it downward from the breakout point. In this case, it suggests a potential move to the downside.
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