ANALYSIS 🔎
- DEGOUSDT hit an ATH and retraced.
- Price retested the flip horizontal support (FHS) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There was a relatively high concentration of buyers at the retest zone.
- The retracement was bounded in the falling wedge (FW) pattern.
- The falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance as expected.
- This is a bullish signal.
- Price action is printing the double bottom neckline on pattern.
- The double bottom pattern is a bullish reversal pattern.
- The downtrend at the right bottom was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
BUY ENTRY ⬆️
- Market price.
TARGETS 🎯
- Horizontal resistance level (R1) / Neckline resistance (NR).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Initial invalidation : breakdown below the double bottom horizontal support level (S1).
- Final invalidation : breakdown below the 0.786 fibonacci retracement level.
- DEGOUSDT hit an ATH and retraced.
- Price retested the flip horizontal support (FHS) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There was a relatively high concentration of buyers at the retest zone.
- The retracement was bounded in the falling wedge (FW) pattern.
- The falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance as expected.
- This is a bullish signal.
- Price action is printing the double bottom neckline on pattern.
- The double bottom pattern is a bullish reversal pattern.
- The downtrend at the right bottom was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
BUY ENTRY ⬆️
- Market price.
TARGETS 🎯
- Horizontal resistance level (R1) / Neckline resistance (NR).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Initial invalidation : breakdown below the double bottom horizontal support level (S1).
- Final invalidation : breakdown below the 0.786 fibonacci retracement level.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.