Brett (Based) [BRETT] | 24-Hour Price Action & Technical Outlook

Step 1: Trend Analysis

• Daily Chart Context: BRETT reached a high of $0.0911 in May, then underwent a sustained downtrend to lows near $0.035 in late June. Recently, the trend reversed from $0.035 up to the current zone, marking a strong near-term recovery.
• Short-Term Trend: From July 1st, the price has advanced from $0.039 to $0.053+, signaling a short-term bullish reversal after bottoming patterns.
• Intraday Trend: In the last 24 hours, prices oscillated between $0.0511–$0.0555. The price remains above its intraday midline, showing consolidation within an upward push.

Step 2: Candlestick Patterns

• Long Wick Lows: Several 1H/4H candles show lower wicks near $0.051, indicating strong dip buying.
• No Clear Top Formation: No repeated bearish engulfing or clear distribution at upper bounds; price remains resilient and bounces back from each dip.

Step 3: Support & Resistance Levels

• Immediate Support: $0.051 (retested repeatedly in the last day, held firm).
• Secondary Support: $0.0494–$0.0505 (previous consolidation zone).
• Immediate Upside Resistance: $0.0551–$0.0555 (recent hourly highs).
• Major Resistance: $0.057–$0.0583 (mini-top structure from July 12–14); above that $0.0604 (July 9-11 peak).
• Current Price ($0.05335) sits midway between support and resistance, with a bullish bias.

Step 4: Moving Averages

• Simple Moving Averages (SMAs):
  • 20-period (approx. 1-2 day): Trending up, price sits above recent 20-hour average.
  • 50-period: Now flattening/turning upward. Bullish cross in recent hours.
  • 200-period: Still above current price, but rapidly closing in.
• Conclusion: Short-term moving averages support further upward momentum; bullish crossovers confirmed.

Step 5: Momentum Indicators

• RSI (Relative Strength Index):
  • Estimate (based on price swings): RSI likely near 60–65, strong but not overbought, giving room for further upside.
• MACD (Moving Average Convergence Divergence):
  • MACD histogram would be widening positively after bottoming; signal line rising fast.
• Stochastics:
  • Likely oscillating higher, but not yet crossing into overbought (>80) territory.

Step 6: Volume Analysis

• Uptick on Breakouts: Volume surged during breakouts above $0.049/$0.051; consolidation phases showed moderate volume, indicating healthy accumulation rather than distribution.
• Current Session: Hour-by-hour, higher volume supports each price move upward, confirming valid breakouts.

Step 7: Pattern Recognition

• Inverse Head & Shoulders: Structure from late June to mid-July resembles an inverse H&S between $0.035–$0.054. Neckline at $0.048, clean breakout & sustained retest.
• Ascending Channel: Ongoing pattern from beginning July, with higher lows and higher highs. Buying dips along channel support is favored.

Step 8: Volatility & ATR (Average True Range)

• ATR Estimate: Based on recent candle ranges, ATR (24h) is about $0.002–$0.003, meaning swings of ~4–6% are common intraday—attractive for active traders.

Step 9: Fibonacci Retracement (from May High to June Low)

• Fib Levels:
  • 0.382: ~$0.051 — recent support.
  • 0.5: ~$0.062 — short-term upside.
  • 0.618: ~$0.073 — next major target if breakout holds.
• **Current price above 0.382 retrace, bullish aim toward 0.5 level.

Step 10: Order Flow, Market Structure & Sentiment

• Bid Support: Multiple successful defenses of $0.051–$0.052 short-term.
• No Sizable Overhead Sell Walls: Each attempt higher finds liquidity but no aggressive large blockers.

Step 11: Confluence Synthesis & Probability Assessment

• Most indicators (moving averages, volume, RSI, MACD, structure) point bullish. Volatility supports active trading, and robust structural support is visible just below the current price.
• Downside risk for a stop loss: sub-$0.0505; potential reward targets extend to $0.055/$0.058 first, with further upside should sentiment remain constructive.

Final Conclusion: BUY

Open near $0.0530 for optimal risk/reward, targeting a test of recent swing highs ($0.0555–$0.057). Place stops below $0.0504 to contain downside risk.

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Short-Term Prediction (Next 24 hours):

• Expect BRETT to trade higher toward key resistance zones at $0.0555–$0.057.
• Consolidation or minor retrace could occur, but the bullish structure and volume support further gains before any significant pullback.

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