VIDTBUSD
Finding support at 0.618 fib area around USD 1.21
Currently previous resistance flipped into support
Forming a falling wedge bullish pattern
Bouncing from 0.618 fib area
Reasons to be bullish
1) MACD daily green - 4 hours still showing red
2) Above 50MA and 100MA
3) Previous resistance turned in support
4) RSI > 50 at daily TF, seems like finding good support here
5) Price found great support at 4hours TF 200 MA
6) Forming a bullish descending triangle pattern and falling wedge.
Overall trend is still bullish, expecting bounce from the support to the next resistance
First level of resistance: USD 1.5
Second level of resistance : USD 1.69
Third level of resistance : USD USD 1.98
Forth level of resistance: USD 2.27
Last level of resistance: USD 2.45
Analysis will be invalided if the price broken below 0.618 level.
Finding support at 0.618 fib area around USD 1.21
Currently previous resistance flipped into support
Forming a falling wedge bullish pattern
Bouncing from 0.618 fib area
Reasons to be bullish
1) MACD daily green - 4 hours still showing red
2) Above 50MA and 100MA
3) Previous resistance turned in support
4) RSI > 50 at daily TF, seems like finding good support here
5) Price found great support at 4hours TF 200 MA
6) Forming a bullish descending triangle pattern and falling wedge.
Overall trend is still bullish, expecting bounce from the support to the next resistance
First level of resistance: USD 1.5
Second level of resistance : USD 1.69
Third level of resistance : USD USD 1.98
Forth level of resistance: USD 2.27
Last level of resistance: USD 2.45
Analysis will be invalided if the price broken below 0.618 level.