Chibuike_Odoh

JUVUSDT (JUVENTUS FAN TOKEN) - BULLISH SETUP

Long
BINANCE:JUVUSDT   JUV / TetherUS
ANALYSIS πŸ”Ž
- JUVUSDT brokeout above the double bottom ( DB ) neckline resistance ( NR ).
- The market hit a swing high and retraced.
- Price is retesting the neckline resistance ( NR ) and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There is a relatively high concentration of buyers at the retest zone (High buying pressure).
- The retracement is resisted by the descending trendline resistance ( DTR ).
- A breakout above the descending trendline resistance ( DTR ) could be a bullish signal.

BUY ENTRY ⬆️
- Breakout above the descending trendline resistance ( DTR ).

TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.

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

Comments

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