ANALYSIS 🔎
- NEOUSDT brokeout above the descending trendline resistance (1).
- Price hit a swing high and retraced for a retest (1) of the descending trendline resistance (1).
- Price the bounced off the retest (1), breaking out above the descending trendline resistance (2), hitting a new swing high.
- Price is currently retracing for a retest (2) of the descending trendline resistance (2), key fibonacci retracement levels and ascending trendline support.
- The current retracement is resisted by the descending trendline resistance (3).
- We see another bounce off the retest (2).
BUY ENTRY ⬆️
- Aggressive (risky) : Key fibonacci retracement levels.
- Conservative : breakout above the descending trendline resistance (3).
TARGETS 🎯
- Swing high (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support.
- NEOUSDT brokeout above the descending trendline resistance (1).
- Price hit a swing high and retraced for a retest (1) of the descending trendline resistance (1).
- Price the bounced off the retest (1), breaking out above the descending trendline resistance (2), hitting a new swing high.
- Price is currently retracing for a retest (2) of the descending trendline resistance (2), key fibonacci retracement levels and ascending trendline support.
- The current retracement is resisted by the descending trendline resistance (3).
- We see another bounce off the retest (2).
BUY ENTRY ⬆️
- Aggressive (risky) : Key fibonacci retracement levels.
- Conservative : breakout above the descending trendline resistance (3).
TARGETS 🎯
- Swing high (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support.
