Long
YFII/BUSD { DFI.MONEY } - BULLISH SETUP
ANALYSIS 🔎
- YFII/BUSD brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and the double bottom neckline resistance turned support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be on the verge of an uptrend.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786)
TARGETS 🎯
- Horizontal resistance level (@5250).
- Horizontal resistance level (@10200).
- Fibonacci extension level 1.0 (@12756).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@2947).
- YFII/BUSD brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 0.786) and the double bottom neckline resistance turned support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be on the verge of an uptrend.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786)
TARGETS 🎯
- Horizontal resistance level (@5250).
- Horizontal resistance level (@10200).
- Fibonacci extension level 1.0 (@12756).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@2947).
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