Chibuike_Odoh

BAKEUSDT { BAKERY TOKEN } - BULLISH SETUP

Long
BINANCE:BAKEUSDT   BAKE / TetherUS
ANALYSIS πŸ”Ž
- BAKEUSDT hit an swing and retraced to the key fibonacci retracement level.
- Price is currently ranging in a rectangular consolidation pattern.
- This rectangular consolidation pattern is known as the accumulation phase (Wyckoff method).
- The accumulation phase is a pre uptrend phase ( bullish build up pattern).
- There's a breakout potential.

BUY ENTRY ⬆️
- Stop limit entry: breakout above the rectangular consolidation pattern's horizontal resistance (@2.2194).
- Market entry: current market price.
- Limit entry: test of the rectangular consolidation pattern's horizontal support (@1.7982).

TARGETS 🎯
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the rectangular consolidation pattern's horizontal support (@1.7982).

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