ANALYSIS 🔎 - This is an update on my previous BAKEBUSD analysis that got invalidated. - Price brokeout above the descending trendline resistance (DTR). - The market hit a swing high and retraced. - Price is retesting and descending trendline resistance (DTR) and key fibonacci retracement zone (0.5-0.618 - 0.786). - The retracement is bounded in the falling wedge (FW) pattern. - A falling wedge pattern is a bullish reversal pattern. - There's a breakout potential.
BUY ENTRY ⬆️ - Breakout above the falling wedge's (FW) resistance and horizontal resistance level (R1).
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