SXP / TetherUSLong
SXPUSDT (SWIPE) - POTENTIAL BUY ENTRY
ANALYSIS 🔎
- SXPUSDT brokeout above the descending trendline resistance (DTR-1) and retraced, breaking down below the ascending trendline support (ATS).
- Price retraced for a test of the 0.618 fibonacci retracement level.
- The retracement was resisted by the descending trendline resistance (DTR-2).
- Price brokeout above the descending trendline resistance (DTR-2).
- Price action is printing an ascending triangle pattern.
- An ascending triangle pattern is a bullish build up pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the ascending triangle's horizontal resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
- SXPUSDT brokeout above the descending trendline resistance (DTR-1) and retraced, breaking down below the ascending trendline support (ATS).
- Price retraced for a test of the 0.618 fibonacci retracement level.
- The retracement was resisted by the descending trendline resistance (DTR-2).
- Price brokeout above the descending trendline resistance (DTR-2).
- Price action is printing an ascending triangle pattern.
- An ascending triangle pattern is a bullish build up pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the ascending triangle's horizontal resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.
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