Balancer BALUSDT ready for a breakout
Updated
Hello all,
A quick trading idea here:
It concerns Balancer's BAL token, which is now back into the macro uptrend channel after making a 37% retrace from its all time high back down to the demand zone near $45.
I will be looking for a breakout in the current around the diagonal resistance on the 4-hour timeframe:
4-hour candle closure above $55 is our trigger. I have placed 3 targets on the chart based on the last visited high and the Fibonacci extension + the target % for the triangle pattern breakout.
Cheers,
A quick trading idea here:
It concerns Balancer's BAL token, which is now back into the macro uptrend channel after making a 37% retrace from its all time high back down to the demand zone near $45.
I will be looking for a breakout in the current around the diagonal resistance on the 4-hour timeframe:
4-hour candle closure above $55 is our trigger. I have placed 3 targets on the chart based on the last visited high and the Fibonacci extension + the target % for the triangle pattern breakout.
Cheers,
Note
Breaking outNote
Target 1 reached
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