ANALYSIS 🔎
- XEMUSDT hit an ATH and retraced.
- Price is retesting the flip horizontal support (FHS).
- There's a relatively high concentration of buyers at the retest zone.
- The retracement was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- The market is consolidating in a rectangular pattern.
- This rectangular consolidation is known as the accumulation phase (wyckoff method).
- The accumulation phase is a bullish build up pattern (pre uptrend).
- There's an breakout potential.
BUY ENTRY ⬆️
- Breakout above the accumulation phase resistance (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
SETUP INVALIDATION ❌
- Breakdown below accumulation phase support (S1).
- XEMUSDT hit an ATH and retraced.
- Price is retesting the flip horizontal support (FHS).
- There's a relatively high concentration of buyers at the retest zone.
- The retracement was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- The market is consolidating in a rectangular pattern.
- This rectangular consolidation is known as the accumulation phase (wyckoff method).
- The accumulation phase is a bullish build up pattern (pre uptrend).
- There's an breakout potential.
BUY ENTRY ⬆️
- Breakout above the accumulation phase resistance (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
SETUP INVALIDATION ❌
- Breakdown below accumulation phase support (S1).