Long
ANT/USDT { ARAGON } - BULLISH SETUP
ANALYSIS 🔎
- ANT/USDT bounced off the all-time low support, breaking out above the descending trendline resistance as expected from my previous analysis.
- Price hit a swing high and retraced.
- Price is currently testing the key fibonacci retracement zone (0.618 - 0.7 - 0.786).
- The pullback retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- Price action is printing the double bottom trend reversal pattern.
- This is a bullish chart pattern.
- There's an uptrend continuation potential.
BUY ENTRY ⬆️
- Aggressive entry (more profitable): current market price
- Conservative entry (higher success rate): breakout above the double bottom neckline resistance (@5.300).
TARGETS 🎯
- Horizontal resistance level (@7.080).
- Horizontal resistance level (@8.755).
- Fibonacci extension levels 1.0 (@10.053).
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the horizontal support level (@4.076).
- Final invalidation: breakdown below the 0.786 fibonacci retracement level (@4.057).
- ANT/USDT bounced off the all-time low support, breaking out above the descending trendline resistance as expected from my previous analysis.
- Price hit a swing high and retraced.
- Price is currently testing the key fibonacci retracement zone (0.618 - 0.7 - 0.786).
- The pullback retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- Price action is printing the double bottom trend reversal pattern.
- This is a bullish chart pattern.
- There's an uptrend continuation potential.
BUY ENTRY ⬆️
- Aggressive entry (more profitable): current market price
- Conservative entry (higher success rate): breakout above the double bottom neckline resistance (@5.300).
TARGETS 🎯
- Horizontal resistance level (@7.080).
- Horizontal resistance level (@8.755).
- Fibonacci extension levels 1.0 (@10.053).
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the horizontal support level (@4.076).
- Final invalidation: breakdown below the 0.786 fibonacci retracement level (@4.057).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.