REEFUSD (REEF) - UPTREND CONTINUATION
ANALYSIS 🔎
- REEFUSD hit a swing high and retraced.
- Price retested the flip horizontal support, 0.618 fibonacci retracement level and ascending channel support.
- The retracement is bounded in a bullish flag pattern.
- Breakout above the bullish flag could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry (risky) : market price (now).
- Conservative entry : Breakout above the bullish flag pattern's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support.
- REEFUSD hit a swing high and retraced.
- Price retested the flip horizontal support, 0.618 fibonacci retracement level and ascending channel support.
- The retracement is bounded in a bullish flag pattern.
- Breakout above the bullish flag could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry (risky) : market price (now).
- Conservative entry : Breakout above the bullish flag pattern's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support.
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