CKB/USDT 3-Day Chart Bullish Breakout from Falling Wedge Pattern

Jun 15

CKBUSDT

The second chart you uploaded shows the CKB/USDT trading pair on a 3-day timeframe, highlighting a "falling wedge" pattern. Here's an analysis based on the provided chart:

Chart Analysis:

1. **Falling Wedge Pattern**:
- A falling wedge is typically considered a bullish reversal pattern. It forms when the price is making lower highs and lower lows, but the slope of the lower highs is steeper than the lower lows.
- In this case, the pattern suggests that the selling pressure is slowing down, and a potential breakout to the upside is expected.

2. **Breakout and Target**:
- The chart indicates that the price has either recently broken out or is about to break out from the falling wedge pattern.
- The target after the breakout is typically calculated by measuring the height of the wedge at its widest point and adding this to the breakout point.
- The target indicated on the chart seems to be around the 0.040000 USDT level.

3. **Current Price**:
- The current price of CKB is around 0.013138 USDT.

4. **Price Action**:
- The price action within the wedge shows a consolidation period with decreasing volume, which is common before a breakout.
- The breakout direction is expected to be upward based on the pattern.

Conclusion:
The chart suggests a bullish outlook for CKB/USDT based on the falling wedge pattern. If the price successfully breaks out above the wedge, it could reach the indicated target around 0.040000 USDT. However, it's important to consider other market factors and conduct further analysis before making any trading decisions.

Remember, while technical patterns can provide insights, they do not guarantee future price movements and should be used in conjunction with other analysis methods.