Technical analysis by pollux3000 about Symbol ORDI: Buy recommendation (11/11/2024)

Weekly timeframe WLDUSDT witnessed a powerful bullish wave between November 2023 and March 2024. Then a corrective wave (around -70%) followed and formed a multi-month consolidation range. Check out how this range has formed an inverted "Head & Shoulder" pattern just above the overlap level. The flat and narrow bollinger bands hint at a potential explosive move. All ingredient are there for an interesting trade setup.StrategyBuy on the break of the resistance line at 43,10$Objective 1: back to the next resistance at 60$ (+40%)Objective 2: ATH region at 90$ (+110%)Objective 3: Trend following strategyInvalidation Mental Stop: below the last low of 39,30$ If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price. This would invalidate the breakout scenario.