Based on the third chart I attached for the River / USDT$RIVER , we notice a change in the drawing and a shift to a very important classic technical pattern. Here is the detailed and simplified analysis:
1. The art model
Y: The ascending triangle (Ascending Triangle)The chart now shows a "Ascending Triangle" model consisting of:
* Fixed horizontal ceiling (Resistance): at level 22.08. This line represents selling pressure that prevents the price from rising.
* Ascending bottoms (uptrend line): The sloping line below shows that buyers are pushing the price up stronger each time it drops.
2. Analysis of Current Price Action
* Breakout Point: The price is currently at 21.86, literally touching the top of the triangle. We are waiting for a daily candle close above level 22.08.
* Purple numbers (1.33 and 0.79): These are Fibonacci ratios measured within the triangle, suggesting that the volatility has started to narrow, indicating an imminent price explosion.
3. Main Targets and Levels
If the price successfully breaks the triangle upward, the targets are arranged as follows:
| Price Level | Technical Condition | Importance |
|---|---|---|
| 22.08 | Breakout Area | This is the "neck of the bottle"; holding above it is key to the rise. |
| 25.94 | First Target | A nearby resistance that the price faced previously. |
| 31.59 | Second Target | A strong technical level representing a previous peak. |
| 37.90 | Main Target | Corresponds with the measurement of the "triangle base" and its upward projection. |
4. Negative Scenario (Stop Loss)
* Risk: If the price fails to break and breaks the uptrend line (the lower sloping line) below level 15.00, the pattern is considered a failure, and we may see a return to lower levels.
Summary and Technical Recommendation:
The currency is in a "very positive" position as long as it maintains the ascending bottoms.
* Safe Entry: It is preferable to enter after confirming a breakout above level 22.10 and holding above it with at least a 4-hour candle.
* Momentum: The last candle shows a strong desire to break out, but caution is required from the "false breakout" that touches resistance and then quickly returns down.
Would you like me to follow the chart with you when the breakout occurs to determine profit-taking levels more accurately?