WANUSD (WANCHAIN) - DAILY ANALYSIS
ANALYSIS 🔎
- WANUSD brokeout above the inverse head and shoulders neckline resistance.
- Price hit a swing high and retraced.
- Price is retesting the neckline resistance (flip horizontal support) and key fibonacci retracement levels (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this retest zone (High buying pressure).
BUY ENTRY ⬆️
- market price (now).
TARGETS 🎯
- Horizontal resistance level (R1).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the previous swing low horizontal support level.
- WANUSD brokeout above the inverse head and shoulders neckline resistance.
- Price hit a swing high and retraced.
- Price is retesting the neckline resistance (flip horizontal support) and key fibonacci retracement levels (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this retest zone (High buying pressure).
BUY ENTRY ⬆️
- market price (now).
TARGETS 🎯
- Horizontal resistance level (R1).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the previous swing low horizontal support level.
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