- B3 wild swings and reversals signal a breakout as buyers and sellers fight for supremacy.
- A wedge breakout predicts a possible 171% rise to $0.016104 if momentum persists.
- Liquidity sweeps and resistance tests indicate uncertainty, with key levels guiding direction.
B3 on Bybit has experienced sharp swings, highlighting shifting market conditions and rising volatility. Strong fluctuations suggest a major move as bulls and bears battle for control, adding uncertainty to the next breakout.
Market Trends and Recent Developments
The 30-minute time frame reveals a strong uptrend from the 7th that took the price to all-time highs by the 11th, after which the trend turned on rising selling pressure. There was sustained volatility leading to a continuous downtrend from the high as the participants rebuilt positions.
Source: Trading View
On the 13th, price action was in a tight range, but a sudden drop and rapid bounce on the 15th showed possible liquidity sweeps or inefficiencies. The latest recorded price is $0.006128, showing a 0.41% increase.
The high of the session was $0.006142 and the low $0.006098. The volume was unchanged at 3.55 million, indicating steady market activity. The candlestick pattern shows shifting bullish and bearish forces.
The initial rally was indicative of good buying, but the profit-taking and resistance at levels prompted a pullback. The sharp fall and fast rebound are indicative of the involvement of heavyweight market players undertaking high-volume transactions.
Technical Analysis and Market Outlook
Javon Marks has identified a declining wedge configuration with recent price activity having broken out above a logarithmic level of resistance. He is indicating that this move could mark a potential bullish reversal if momentum continues. Market players are closely monitoring price action to gauge the next trend.
Source: Javon Marks
Marks has set a breakout point at $0.016104, hoping for a possible 171% increase if buying pressure is the way. He also observes that similar past trends have led to longer-term bull runs. If momentum continues, resistance levels will be challenged. If selling pressure returns, however, support could be challenged again before the next major move.
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