PYR Weekly Imbalance Retest : $10 are coming

16 янв.

PYR, the crypto that patiently accumulated within a horizontal range, unleashed a rapid breakout, leaving behind a significant weekly imbalance. As we tread water in an ascending channel, the journey to surpass the upper bounds awaits a strategic retest, targeting the elusive $10 milestone.

Key Observations:

Extended Accumulation Period:

PYR underwent a prolonged phase of accumulation, consolidating its value within a horizontal range.
This accumulation laid the foundation for a potential explosive move.
Swift Breakout and Imbalance Creation:

The breakout from the accumulation range was swift, propelling PYR to new heights.
However, the breakout left behind a conspicuous weekly imbalance, signifying a significant pool of untraded volume.
Current Scenario and Anticipated Moves:

Ascending Channel Dynamics:

PYR is currently traversing within an ascending channel, marked by higher highs and higher lows.
The channel signals a bullish bias, but challenges lie ahead.
Struggling at the Channel's Upper Boundary:

Despite the bullish momentum, PYR has faced resistance at the upper boundary of the ascending channel.
The inability to breach this level suggests a need for a strategic move.
Anticipated Move - Retest Strategy:

Retest of Weekly Imbalance and Range High:

To fortify its ascent, PYR is expected to undergo a retest of the weekly imbalance left by the breakout.
This anticipated retest aligns with the range high, providing a confluence of support.
Critical Juncture at $10:

The strategic retest becomes a crucial juncture, determining PYR's ability to overcome historical resistance.
A successful retest could pave the way for a decisive move towards the $10 psychological level.
Strategies for Traders:

Observing Price Action at Key Levels:

Traders should closely monitor price action around the weekly imbalance and the range high during the retest.
A strong bounce from these levels could signal a renewed bullish momentum.
Setting Strategic Entry Points:

Consider setting entry points in alignment with the anticipated retest, ensuring positions are strategically placed to benefit from potential bullish moves.
Conclusion: PYR's Odyssey Continues

PYR's journey, from patient accumulation to a breakout with lingering imbalances, is a testament to the complex dynamics of crypto markets. As we stand at the threshold of a potential retest, traders brace themselves for a strategic move that could propel PYR towards the elusive $10 mark.

🚀 Ascending Channel Dynamics | 🔄 Imbalance Retest Strategy | 💼 Strategic Entry Points

💬 Share your insights on PYR's journey and your strategies for navigating this crucial phase! 🌐✨