ANALYSIS 🔎
- SFP/USDT was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- Price then hit a swing high (@3.1650) and retraced.
- Price is retesting the horizontal support level, key fibonacci retracement zone (0.618 - 0.702 - 0.786) and descending trendline resistance.
- There's a relatively high concentration of buyers at this zone.
- We could see an uptrend continuation from this zone.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786).
TARGETS 🎯
- Horizontal resistance level (@2.1945).
- Horizontal resistance level (@3.1650).
- Horizontal resistance level (@4.4500).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@1.3166).
- SFP/USDT was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- Price then hit a swing high (@3.1650) and retraced.
- Price is retesting the horizontal support level, key fibonacci retracement zone (0.618 - 0.702 - 0.786) and descending trendline resistance.
- There's a relatively high concentration of buyers at this zone.
- We could see an uptrend continuation from this zone.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786).
TARGETS 🎯
- Horizontal resistance level (@2.1945).
- Horizontal resistance level (@3.1650).
- Horizontal resistance level (@4.4500).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@1.3166).
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.