ANALYSIS 🔎
- QNTBUSD is on an uptrend bounded in the ascending channel.
- The market hit an all time high (ATH) and retraced.
- Price is retesting the flip horizontal support, the ascending channel support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry: the key fibonacci retracement zone .
- Conservative entry: breakout above the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (@165.6)
- Horizontal resistance level (@191.9)
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the ascending channel support
- Final invalidation: breakdown below the 0.786 fibonacci retracement level.
- QNTBUSD is on an uptrend bounded in the ascending channel.
- The market hit an all time high (ATH) and retraced.
- Price is retesting the flip horizontal support, the ascending channel support and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above this descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry: the key fibonacci retracement zone .
- Conservative entry: breakout above the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (@165.6)
- Horizontal resistance level (@191.9)
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the ascending channel support
- Final invalidation: breakdown below the 0.786 fibonacci retracement level.