Chibuike_Odoh

TWTUSDT (TRUST WALLET TOKEN) - POTENTIAL BUY ENTRY

Long
BINANCE:TWTUSDT   TWT / TetherUS
ANALYSIS πŸ”Ž
- TWTUSDT hit an ATH
- The market then retraced, rejecting the ascending channel ( AC ) resistance and breaking down below the minor ascending channel (MAC) support.
- Price is retesting the ascending channel ( AC ) support and 0.618 fibonacci retracement level.
- There's a relatively high concentration of buyers at this retest zone.
- The retracement is bounded in the minor descending channel ( MDC ).
- A breakout above the minor descending channel ( MDC ) resistance could be an uptrend continuation signal.

BUY ENTRY ⬆️
- Breakout above the minor descending channel ( MDC ) resistance and the previous swing high horizontal resistance level (R1).

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

SETUP INVALIDATION ❌
- Breakdown below the ascending channel ( AC ) and previous swing low horizontal support level (S1).

Comments

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