- IOST/BTC hit a swing high (@0.00000150) and retraced for a retest of the key zone (0.5 - 0.618 - 0.786).
- There was a relatively high concentration of buyers at the retest zone.
- The retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- This is a signal.
- Price action is printing an pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Market entry: current market price.
- Stop limit entry: breakout above the pattern's horizontal resistance.
- Limit entry: test of the pattern's inclined support.
- Horizontal (@0.00000076).
- Horizontal (@0.00000134).
- Horizontal (@0.00000150)
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the pattern's inclined support.
- Final invalidation: breakdown below the 0.786 level.