ANALYSIS 🔎
- IDEA/USDT brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and the double bottom neckline resistance turned support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be on the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786)
TARGETS 🎯
- Horizontal resistance level (@0.4976).
- Horizontal resistance level (@0.6100).
- Horizontal resistance level (@0.8400).
- Fibonacci extension level 1.0 (@1.0481).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@0.2559).
- IDEA/USDT brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and the double bottom neckline resistance turned support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be on the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786)
TARGETS 🎯
- Horizontal resistance level (@0.4976).
- Horizontal resistance level (@0.6100).
- Horizontal resistance level (@0.8400).
- Fibonacci extension level 1.0 (@1.0481).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@0.2559).