SFPUSDT (SAFEPAL) - UPTREND CONTINUATION

ANALYSIS 🔎
- 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).