Chibuike_Odoh

TRBUSDT (TELLOR) - UPTREND CONTINUATION

Long
BINANCE:TRBUSDT   TRB / TetherUS
ANALYSIS ūüĒé
- TRBUSDT brokeout above the double bottom neckline resistance as expected from my previous analysis.
- The market hit a swing high and retraced.
- Price is retesting the double bottom neckline resistance (flip horizontal support) and key fibonacci retracement levels (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this retest zone (High buying pressure).
- The retracement is resisted by the descending trendline resistance.
- Breakout above the descending trendline resistance could be an uptrend continuation signal.

BUY ENTRY ‚¨ÜÔłŹ
- Conservative entry : breakout above the descending trendline resistance.
- Aggressive entry (risky) : market price (now).

TARGETS ūüéĮ
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
- ATH resistance.

SETUP INVALIDATION ‚ĚĆ
- Breakdown below the 0.786 fibonacci retracement level.

Comments

Just bought in, lets see how it goes. Thanks for the analysis
+2 Reply
Chibuike_Odoh moemetwally
@moemetwally ūüĎć
+1 Reply
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