Chibuike_Odoh

SFPUSDT (SAFEPAL) - UPTREND CONTINUATION

Long
BINANCE:SFPUSDT   SFP / TetherUS
ANALYSIS πŸ”Ž
- SFPUSDT hit an All time high ( ATH ) and retraced to the 0.618 fibonacci retracement level.
- The retracement was bounded in the falling wedge pattern
- A falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance.
- Price is currently ranging in a rectangular consolidation pattern.
- This rectangular consolidation pattern is known as the accumulation phase (Wyckoff method).
- The accumulation phase is a pre uptrend phase ( bullish build up pattern).
- There's a breakout potential.

BUY ENTRY ⬆️
- Breakout above the rectangular consolidation pattern's horizontal resistance (R1).

TARGETS 🎯
- Horizontal resistance level (R2).
- All Time High ( ATH ) resistance (R3).
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the rectangular consolidation pattern's horizontal support (S1).

Comments

You were right
Reply
Chibuike_Odoh Malikemor
@Malikemor, πŸ‘
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out