Chibuike_Odoh

LRCUSDT - Potential buy entry πŸ”Ό

Long
BINANCE:LRCUSDT   Loopring / TetherUS
Analysis πŸ”Ž: LRCUSDT bounced off the major ascending channel support and brokeout above the symmetrical triangle's inclined resistance. It also brokeout above the previous swing high.
Price is heading to the major ascending channel resistance.
The impulsive move is supported by an ascending trendline support.
Price is retracing to the ascending trendline support.
The pullback is resisted by a descending trendline resistance.
Potential bounce off the ascending trendline + key fibonacci retracement levels.

Buy entry ⬆️: breakout above the descending trendline resistance.

Targets 🎯: horizontal resistance level (R1), fibonacci extension levels.

Setup invalidation ❌: breakdown below the ascending trendline support.

Enjoy πŸ₯‚

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