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Chibuike_Odoh
Feb 4, 2021 6:23 AM

BTSUSDT (BITSHARES) - UPTREND CONTINUATION  Long

Description

ANALYSIS 🔎
- BTSUSDT brokeout above the descending trendline resistance (1) and hit swing high.
- Price the retraced for a retest of the flip horizontal support and 0.618 fibonacci retracement level.
- The retracement was resisted by the descending trendline resistance (2).
- Price brokeout above the descending trendline resistance (2).
- Price action is printing an ascending triangle pattern.
- This is a bullish build up pattern.
- There's a breakout potential.

BUY ENTRY ⬆️
- Breakout above the ascending triangle's horizontal resistance.

TARGETS 🎯
- Horizontal resistance level R1
- Horizontal resistance level R2
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
Comments
appface
perfect
Chibuike_Odoh
@Ghada, 👍
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