Chibuike_Odoh

POLS/USDT { POLKASTARTER } - BULLISH SETUP

Long
BINANCE:POLSUSDT   POLS / TetherUS
ANALYSIS 🔎
- POLS/USDT is currently on an uptrend.
- The market hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and the horizontal support level .
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- The pullback retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance will be a bullish signal.
- The market could be on the verge of the 5th impulsive Elliott wave .

BUY ENTRY ⬆️
- Conservative entry: breakout above the descending trendline resistance.
- Aggressive entry: key fibonacci retracement zone (0.618 - 0.702 - 0.786).

TARGETS 🎯
- Horizontal resistance level (@3.550).
- Horizontal resistance level (@4.280).
- Fibonacci extension level 1.0 (@5.382).

SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@1.981).

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.