1. **ID50 Setup Formation:**
- The market appears to have formed a **peak formation low**, followed by a reversal into an upward trend.
- The price retraced to the **50 EMA (blue line)**, which aligns with the **ID50 trade entry zone** in BTMM.
- A bounce off this moving average suggests **bullish continuation**.
2. **Market Structure & Momentum:**
- Higher highs and higher lows are evident, confirming an uptrend.
- The **red EMA (13 EMA)** remains above the **50 EMA**, reinforcing the bullish sentiment.
- Price recently tested the **50 EMA support**, indicating a potential **buying opportunity**.
3. **Key Levels to Watch:**
- The nearest **resistance zone** is around **1.29700**, which might serve as the next target.
- Support is currently around **1.29000**, aligning with the 50 EMA.
**Conclusion:**
If the price maintains support above the 50 EMA, the **bullish ID50 setup** suggests a continuation of the uptrend. A break above recent highs could lead to further gains. However, traders should watch for potential **stop hunts** before a strong move occurs.
- The market appears to have formed a **peak formation low**, followed by a reversal into an upward trend.
- The price retraced to the **50 EMA (blue line)**, which aligns with the **ID50 trade entry zone** in BTMM.
- A bounce off this moving average suggests **bullish continuation**.
2. **Market Structure & Momentum:**
- Higher highs and higher lows are evident, confirming an uptrend.
- The **red EMA (13 EMA)** remains above the **50 EMA**, reinforcing the bullish sentiment.
- Price recently tested the **50 EMA support**, indicating a potential **buying opportunity**.
3. **Key Levels to Watch:**
- The nearest **resistance zone** is around **1.29700**, which might serve as the next target.
- Support is currently around **1.29000**, aligning with the 50 EMA.
**Conclusion:**
If the price maintains support above the 50 EMA, the **bullish ID50 setup** suggests a continuation of the uptrend. A break above recent highs could lead to further gains. However, traders should watch for potential **stop hunts** before a strong move occurs.
Trade closed: target reached
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.
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.