Cartesisignals
CTSI/USDT Crucial Zone. Break the resistance or Rejected again ? 💎 CTSI is undeniably on our radar. Currently, it's at a pivotal resistance point within an ascending triangle. Historical data reveals the strength of this resistance, as CTSI has made multiple attempts to breach it without success. For a confirmed bullish trajectory, CTSI needs to successfully break through this resistance.
💎 However, if CTSI fails to surpass this resistance once again, it might retrace to the ascending triangle's support trendline. At this juncture, it's crucial for CTSI to find support and rebound. Failing to do so and closing a candle below this trendline could signal a downward move for CTSI, potentially heading towards the primary support zone or even the critical support level.
CTSI Buy/Long Setup on 1H TF (Swing)Elliott Wave 1-5 has been plotted and we are waiting for an ABC correction pattern. However, a BoS and CHoCH have been plotted as well. We can take a risky LONG here with the retracements for our planned take profits as follows:
🚪Entry: Current price
💰Trade: Cross 10-15x (2% of capital)
⛔SL: 0.2255
🎯1: 0.2592
🎯2: 0.2660
🎯3: 0.2757
🎯4: 0.2881
CTSIUSD targeting 0.5500 in two possible scenariosCartesi (CTSIUSD) emphatically broke above the 0.382 Fibonacci and is headed for the 0.5 Fibonacci (0.4000). With the 1D RSI massively overbought having almost hit 90.00 three days ago, it is possible to see a pull-back to the 0.236 Fib similar to September 2021. As long the 0.382 Fib holds, we may target the 0.618 Fib at 0.55000, otherwise we would welcome the 0.236 Fib pull-back for a better buy.
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