FLOW/USDT { FLOW } - BULLISH SETUP
ANALYSIS 🔎
- FLOW/USDT brokeout above the double bottom neckline resistance.
- The market hit a swing high and retraced.
- Price is retesting the neckline resistance and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There is a relatively high concentration of buyers at the retest zone (High buying pressure).
- The retracement is resisted by the descending trendline resistance.
- A breakout above the descending trendline resistance could be a bullish signal.
BUY ENTRY ⬆️
- Breakout above the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (@24.75).
- Horizontal resistance level (@26.69).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.
- FLOW/USDT brokeout above the double bottom neckline resistance.
- The market hit a swing high and retraced.
- Price is retesting the neckline resistance and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There is a relatively high concentration of buyers at the retest zone (High buying pressure).
- The retracement is resisted by the descending trendline resistance.
- A breakout above the descending trendline resistance could be a bullish signal.
BUY ENTRY ⬆️
- Breakout above the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (@24.75).
- Horizontal resistance level (@26.69).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.
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