IDEA/USDT { IDEAOLOGY } - BULLISH SETUP
ANALYSIS 🔎
- IDEA/USDT brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 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 on the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786)
TARGETS 🎯
- Horizontal resistance level (@0.4976).
- Horizontal resistance level (@0.6100).
- Horizontal resistance level (@0.8400).
- Fibonacci extension level 1.0 (@1.0481).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@0.2559).
- IDEA/USDT brokeout above the double bottom neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.702 - 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 on the verge of an uptrend continuation.
BUY ENTRY ⬆️
- Key fibonacci retracement zone (0.618 - 0.702 - 0.786)
TARGETS 🎯
- Horizontal resistance level (@0.4976).
- Horizontal resistance level (@0.6100).
- Horizontal resistance level (@0.8400).
- Fibonacci extension level 1.0 (@1.0481).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@0.2559).
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.