ANALYSIS 🔎
- BTCUSDT corrected as expected from my previous analysis.
- Price retested the ascending channel support, ascending triangle support, horizontal support level and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There was a successful bounce off the retest zone.
- Price action printed the inverse head and shoulders pattern.
- Price brokeout above the inverse head and shoulders neckline resistance.
- This is a bullish signal.
- Price is yet to breakout above the ascending triangle's horizontal resistance (ATH).
BUY ENTRY ⬆️
- Aggressive entry : current market price (CMP).
- Conservative entry : breakout above the ascending triangle's horizontal resistance (ATH).
TARGETS 🎯
- Fibonacci extension levels.
- Ascending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
- BTCUSDT corrected as expected from my previous analysis.
- Price retested the ascending channel support, ascending triangle support, horizontal support level and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There was a successful bounce off the retest zone.
- Price action printed the inverse head and shoulders pattern.
- Price brokeout above the inverse head and shoulders neckline resistance.
- This is a bullish signal.
- Price is yet to breakout above the ascending triangle's horizontal resistance (ATH).
BUY ENTRY ⬆️
- Aggressive entry : current market price (CMP).
- Conservative entry : breakout above the ascending triangle's horizontal resistance (ATH).
TARGETS 🎯
- Fibonacci extension levels.
- Ascending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
