Chibuike_Odoh

SUKU/USDT { SUKU } - BULLISH SETUP

Long
KUCOIN:SUKUUSDT   suku / Tether
ANALYSIS πŸ”Ž
- SUKU/USDT is currently on an uptrend supported by the ascending trendline support.
- The market hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and ascending trendline support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- The retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- The market could be on the verge of the 5th impulsive Elliott wave .

BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786).

TARGETS 🎯
- Horizontal resistance level (@1.07541).
- Horizontal resistance level (@1.25106).
- Horizontal resistance level (@1.58302).
- Fibonacci extension level 1.0 (@1.84350).

SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@0.70033).

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