đź’Ž GALA has recently broken out of a descending channel and formed a cup and handle pattern, indicating a potential bullish reversal. Additionally, the price has exhibited signs of CHoCH (Change Of Character) and BOS (Break of Structure), further supporting the bullish market structure and increasing the likelihood of a bullish move.
đź’ŽIf GALAUSDT manages to break above the resistance level, it would confirm the cup and handle pattern and could lead to a bullish continuation towards the next resistance level. In the event of a pullback, we can anticipate a bounce from the bullish OB (Order Block), especially if accompanied by bullish candlestick patterns, which would provide confirmation of the bullish bias.
đź’ŽHowever, if the price exhibits sharp declines with significant red candles, it would be prudent to exercise caution and wait for better price action confirmation before considering entry, as this could indicate a potential reversal or market uncertainty.
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