Chibuike_Odoh

AUCTIONBUSD { AUCTION } - BULLISH SETUP

Long
BINANCE:AUCTIONBUSD   AUCTION / BUSD
ANALYSIS πŸ”Ž
- This is a higher timeframe analysis of my previous analysis on AUCTIONBUSD .
- AUCTIONBUSD was bounded in a descending channel .
- Price brokeout above the descending channel's resistance.
- This is a bullish signal.
- Price action is printing an ascending triangle pattern.
- An ascending triangle pattern is a bullish build up pattern.
- There's a breakout potential.

BUY ENTRY ⬆️
- Market entry: current market price.
- Stop limit entry: breakout above the ascending triangle's horizontal resistance (@29.3)
- Limit entry: test of the ascending triangle's inclined support.


TARGETS 🎯
- Short term targets (black arrow pointers): Fibonacci extension levels.
- Long term targets (blue arrow pointers): Horizontal resistance levels (@55.913, @71).

SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.

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