ORDI has been making some serious moves lately! It's currently trading within an ascending channel on the daily timeframe. This bullish channel suggests that the price is likely to continue moving upwards.
What's next for ORDI?
Well, it recently faced some selling pressure after reaching the top of the channel. However, it quickly bounced back and formed a Double Bottom pattern, showing strong buying interest.
Here's what to watch out for:
* Zigzag Correction: The price might undergo a zigzag correction within the green box range. This could be a great buying opportunity for those who missed the initial rally.
* Breaking the First Supply Area: If the price breaks the first supply area, it could signal a bullish breakout and lead to further gains towards the specified targets.
But, remember:
* Invalidation Level: If the price breaks below the Invalidation Level, it could signal a bearish reversal. In this case, it's best to reassess the situation and consider taking profits or exiting your position.
So, what's the takeaway?
ORDI looks bullish, and it's showing strong signs of potential upside. However, it's important to stay cautious and monitor the market closely.
Disclaimer: This is not financial advice. Always do your own research before making any investment decisions.
Let's keep our eyes on ORDI as it continues to make waves in the crypto market!
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