- BZRXUSDT brokeout above the cup and handle resistance and hit a swing high.
- The market then retraced for a retest.
- Price is retesting the cup and handle 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).
BZRXUSDT bounced off the descending triangle support as expected from my previous analysis.
Price is testing the descending triangle inclined resistance.
Potential rejection of the inclined resistance.
Sell entry ⬇️ - breakdown below the minor ascending channel resistance.
Target 🎯 - descending triangle support.
Setup invalidation ❌ - breakout above the...