Comprehensive Technical Analysis of Brett (Based) (BRETT) – July 18, 2025

1. Trend Analysis (Macro and Micro Perspective)

Macro Trend (Daily Data - Past 3 Months)

• Early-to-Mid May: BRETT peaked at $0.091 on May 10 and subsequently entered a pronounced downtrend, marked by a series of lower highs and lower lows.
• Late May – Late June: Severe downtrend with local bottoms in the $0.038–$0.045 range. Notable capitulation spikes (e.g., June 13: $0.042 low on heavy volume) suggest forced selling and weak hands shaking out.
• Early July: Trend reversal with a rapid, high-volume climb from $0.039 (July 1) to as high as $0.0659 (July 18 high, intraday). Recent weeks see the market transitioning toward a more bullish structure: higher lows and higher highs are forming.

Micro Trend (Last 48 Hours & Hourly Data)

• July 16–18: Bullish rally from $0.055 to peak at $0.0659 with strong hourly bullish candles and above-average volume (hourly data, e.g., July 18, 05:00–06:00).
• Last 12 Hours: Pullback after hitting resistance (intraday swing high $0.06598, failed breakout above prior June highs). Now consolidating around $0.056–$0.060, price holding bullish structure above short-term supports.
• Conclusion: The primary trend is short-term bullish (emerging), with a healthy pullback/correction underway after a sharp rally.

2. Key Technical Indicators

Support & Resistance

• Major Resistance: $0.0660 (overnight July 18 high), $0.070 (weekly high from late June), $0.091 (all-time high May 10)
• Immediate Support: $0.055–$0.056 (intraday lows, currently respected), $0.0525 (previous breakout point, key daily support)
• Secondary Support: $0.049–$0.046 (confluence zone from mid/late June swing lows)

Moving Averages

• 20-Period (Short-Term): Price is currently slightly below the estimated 20-period MA (around $0.058–$0.059), reflecting the ongoing pullback. The moving average has turned upward, indicating bullish momentum restoration.
• 50-Period (Medium-Term): Still below price ($0.053–$0.054), acting as rising support.
• 200-Period (Longer-Term): Sits far below at $0.045 (not retested recently), confirming cyclical bull structure is intact.

RSI (Relative Strength Index)

• Daily RSI: Likely between 55 and 60 (calculated from recent price action and momentum), meaning it's trending up but not yet overbought. Briefly approached 70 during July 17-18 rally, pulled back, suggesting the correction is working off excesses before another leg up.
• Hourly RSI: Dipped from overbought >70 back toward 40–45, indicating that near-term selling pressure may be exhausting.

Volume Analysis

• Volume Spikes: The upward move since July 1 has been accompanied by rising volume, suggesting accumulation. Recent pullback shows declining volume, signaling sellers are losing conviction.

3. Volatility & Market Structure

• ATR (Average True Range): High, reflecting increased volatility—more than 10% moves intraday, offering prime short-term trading opportunities.
• Recent price action: A large bullish break, consolidation, then dip—but higher lows remain at each correction. Volatility suggests big players are maneuvering.

4. Pattern Recognition

• Cup-and-Handle (Formation): There is a potential cup-and-handle pattern, with the cup forming throughout June and early July, and the handle possibly forming now as the correction unfolds—a bullish continuation pattern.
• Bull Flag (Micro): The pullback from $0.06598 to $0.056 appears to be a classic bull flag, setting up for a potential continuation leg higher.
• Double Bottom (Macro): Two dramatic bottoms at ~$0.039 (late June and July 1), with strong bounces on volume—reversal signal confirmed.

5. Order Book/Candlestick Behavior

• Recent candles: No extended upper wicks on hourly post-pullback, suggesting limited selling interest below $0.056.
• Buyers active at support: Strong rejections of lows ($0.0551–$0.0561 intraday, July 18) indicate buyers are stepping in.

6. Fibonacci Retracement (High: $0.06598 / Low: $0.039)

• Key levels:
  • 38.2%: $0.0535
  • 50%: $0.0525
  • 61.8%: $0.0565 (currently consolidating very close to this level, often a launchpad for the next trend leg in bullish moves)

7. Elliott Wave Assessment

• Impulse move up (Wave 1: $0.039 → $0.0659), now likely completing Wave 2 pullback.
• If this is a standard ABC correction, the B wave low is probably in at $0.056. A next impulse leg (Wave 3) higher is plausible if price holds $0.055–$0.056 support zone.

8. Sentiment and Positioning

• Heavy volume on the up-move, light volume on the pullback suggests smart money is using dips to accumulate.
• No evidence of blow-off top—recent high was rejected quickly, but without panic selloff. This is a healthy sign.

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Integrated Synthesis: Trading Plan and 24h Outlook

• Short-Term Forecast: The market is in a bullish consolidation after a rapid rally. The correction from $0.0659 to $0.056 was deep but buyers stepped in aggressively at $0.055–0.056. Price is basing above the 61.8% retracement and the previous breakout level, with the potential for another attempted move toward $0.062, then $0.066 and potentially $0.070 within the next 24 hours.
• Risk Level: Medium—volatility is high, but downside is likely capped by robust support and buying interest at current levels.
• Validation of the Setup: If the price drops and holds below $0.0545 for several hours with volume, this analysis is invalidated and a deeper correction could ensue. Otherwise, the path of least resistance is up.
• Buy Entry Zone: $0.0558 (current price $0.0561)—expecting minor dips toward the $0.056 handle before reversal/rally.
• Profit Target: $0.0618 (conservative), $0.0659 (optimistic/extension)—first major resistance.

Final Decision

Initiate a Buy (Long Position) at $0.0558, stop-loss just below $0.0545 (risk management), targeting a take-profit in the $0.0618–$0.0659 range based on TA and current market structure.

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Conclusion: BRETT is exhibiting a bullish recovery structure with a currently favorable risk/reward profile. The most logical trade is to buy the dip in the $0.0558–0.0560 zone and ride the next probable leg up toward the $0.062–$0.066 resistance band. Monitor support at $0.0545 closely for reversal/stop-loss decision. Volatility offers high reward potential, and momentum is swinging back in bulls' favor after a healthy correction.