Gala: Bullish Reversal Ahead! Watch for Breakout Confirmation 🚀

29 feb

💎 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.

💎If 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.

💎However, 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.