BGBUSDT made a bullish break-out. Potential for +7% profit.

The Bitget token (BGBUSDT) broke today above the last Lower Highs trend-line left as Resistance since the pull-back from the February 10 High. By doing so, it also broke above the 1H MA50 (blue trend-line) which has been unbroken also since Feb 10. This is technically a double bullish break-out formation and now which should turn our focus on the Fibonacci retracement levels for potential targets. Notice also that the MACD is on a Bullish Cross, while the RSI has also broke above its respective short-term Resistance level.

If the 0.382 Fib level breaks, our bullish target will be the 0.618 Fib at 0.11713. We may see some profit taking there, so buying should be extended after a confirmed break of the 0.11785 Resistance, where the target will be a complete gap fill at 0.12115. This represents all together from the current levels a +7% profit opportunity.



--------------------------------------------------------------------------------------------------------

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **

--------------------------------------------------------------------------------------------------------