ASRUSDT (AS ROMA FAN TOKEN) - BULLISH SETUP
ANALYSIS 🔎
- ASRUSDT has been on a mid-term uptrend since January 2021.
- This uptrend has been supported by the ascending trendline support (ATS).
- The market hit a swing high and retraced.
- Price retested the ascending trendline support.
- Price action is printing a pennant (P) pattern.
- A pennant pattern is a trend continuation pattern.
- It is a bullish continuation pattern in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Stop limit entry : breakout above the pennant pattern's inclined resistance.
- Limit entry : test of the pennant pattern's inclined support.
- Market entry : current market price (CMP).
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the pennant pattern's inclined support and the ascending trendline support.
- ASRUSDT has been on a mid-term uptrend since January 2021.
- This uptrend has been supported by the ascending trendline support (ATS).
- The market hit a swing high and retraced.
- Price retested the ascending trendline support.
- Price action is printing a pennant (P) pattern.
- A pennant pattern is a trend continuation pattern.
- It is a bullish continuation pattern in this case.
- There's a breakout potential.
BUY ENTRY ⬆️
- Stop limit entry : breakout above the pennant pattern's inclined resistance.
- Limit entry : test of the pennant pattern's inclined support.
- Market entry : current market price (CMP).
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the pennant pattern's inclined support and the ascending trendline support.
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