ANALYSIS 🔎
- DEXE/BUSD brokeout above the double bottom neckline resistance.
- The market hit a swing high and retraced.
- Price is retesting the neckline resistance and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There is a relatively high concentration of buyers at the retest zone (High buying pressure).
- The retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- Price action is printing a symmetrical triangle pattern.
- There's an uptrend continuation potential.
BUY ENTRY ⬆️
- Breakout above the symmetrical triangle's inclined resistance.
TARGETS 🎯
- Horizontal resistance level (@16.50).
- Horizontal resistance level (@21.28).
- Horizontal resistance level (@22.90).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the symmetrical triangle's inclined support.
- Final invalidation: breakdown below the 0.786 fibonacci retracement level.
- DEXE/BUSD brokeout above the double bottom neckline resistance.
- The market hit a swing high and retraced.
- Price is retesting the neckline resistance and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There is a relatively high concentration of buyers at the retest zone (High buying pressure).
- The retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- Price action is printing a symmetrical triangle pattern.
- There's an uptrend continuation potential.
BUY ENTRY ⬆️
- Breakout above the symmetrical triangle's inclined resistance.
TARGETS 🎯
- Horizontal resistance level (@16.50).
- Horizontal resistance level (@21.28).
- Horizontal resistance level (@22.90).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the symmetrical triangle's inclined support.
- Final invalidation: breakdown below the 0.786 fibonacci retracement level.