GT + FIB + previous high.
Fibonacci Retracement Bounce:
The price is bouncing near the 0.5 Fibonacci retracement level, which is a common support zone in an uptrend. This suggests buyers are stepping in at this level.
Risk-to-Reward Ratio:
The trade setup shows a favorable risk-to-reward ratio (~4:1), with the potential upside significantly larger than the downside.
Bullish Structure:
The price has been making higher highs and higher lows, indicating a clear uptrend on the 4-hour chart.
Consolidation Near Support:
The price appears to be consolidating near a strong support zone (~$7.40), which could act as a launching point for further upward movement.
Breakout Potential:
If the price clears the resistance near $7.80–$8.00, there’s a potential move toward $9.00 and above (a 22% upside as indicated on the chart).
Fibonacci Retracement Bounce:
The price is bouncing near the 0.5 Fibonacci retracement level, which is a common support zone in an uptrend. This suggests buyers are stepping in at this level.
Risk-to-Reward Ratio:
The trade setup shows a favorable risk-to-reward ratio (~4:1), with the potential upside significantly larger than the downside.
Bullish Structure:
The price has been making higher highs and higher lows, indicating a clear uptrend on the 4-hour chart.
Consolidation Near Support:
The price appears to be consolidating near a strong support zone (~$7.40), which could act as a launching point for further upward movement.
Breakout Potential:
If the price clears the resistance near $7.80–$8.00, there’s a potential move toward $9.00 and above (a 22% upside as indicated on the chart).
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.