ANALYSIS 🔎
- IDEX/BUSD brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.5 - 0.618 - 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 at the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Conservative entry: breakout above the horizontal resistance level (@0.44960)
- Aggressive entry: market price.
TARGETS
- Horizontal resistance level (@0.74500).
- Horizontal resistance level (@0.98000).
- Fibonacci extension level 1.0 (@1.19118).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@0.23047).
- IDEX/BUSD brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.5 - 0.618 - 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 at the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Conservative entry: breakout above the horizontal resistance level (@0.44960)
- Aggressive entry: market price.
TARGETS
- Horizontal resistance level (@0.74500).
- Horizontal resistance level (@0.98000).
- Fibonacci extension level 1.0 (@1.19118).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@0.23047).