XMRUSDT (MONERO) - POTENTIAL BUY ENTRY Long

Description

⋅ Feb 26, 2021 2:45 PM

ANALYSIS 🔎
- XMRUSDT was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- Price then retraced to the key fibonacci retracement levels (0.5 - 0.618 - 0.786).
- The retracement is bounded in the bullish flag pattern.
- There's an uptrend potential.

BUY ENTRY ⬆️
- Breakout above the bullish flag's resistance.

TARGETS 🎯
- Horizontal resistance level (R1).
- Fibonacci extension levels.
- Horizontal resistance level (R2).

SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.

Comments

mohammadjavad_movahedi

⋅ Feb 27, 2021 10:33 AM

thanks

Chibuike_Odoh

⋅ Feb 27, 2021 10:44 AM

@mohammadjavad79 👍