SFPUSDT (SAFEPAL) - UPTREND CONTINUATION ANALYSIS 🔎
- SFPUSDT hit an All time high (ATH) and retraced to the 0.618 fibonacci retracement level.
- The retracement was bounded in the falling wedge pattern
- A falling wedge pattern is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance.
- Price is currently ranging in a rectangular consolidation pattern.
- This rectangular consolidation pattern is known as the accumulation phase (Wyckoff method).
- The accumulation phase is a pre uptrend phase (bullish build up pattern).
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the rectangular consolidation pattern's horizontal resistance (R1).
TARGETS 🎯
- Horizontal resistance level (R2).
- All Time High (ATH) resistance (R3).
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the rectangular consolidation pattern's horizontal support (S1).
SFPBTC
Optimistic analysis before the SFP scenario! Price projectionTechnical analysis regarding the price of SAFEPAL in relation of dollar Tether for the next scenarios, based on 30 minutes movement.
Price comes in with a very sharp drop and is losing its selling strength/pressure.
On February 11th, strong buyer demand drove the price exponentially, closing always above!
I strongly believe in the potential of this crypto for the next scenarios, be it in the medium and/or long term.
RSI> 45 gaining strength. 34 period EMA driving crypto price.
disclaimer
*** In accordance with CVM Instruction No. 598, of May 3, 2018, Art. 21, I declare that the recommendations of this analysis reflect solely and exclusively my personal opinions and perceptions and that they were prepared independently and autonomously. Not being considered a purchase and/or sale recommendation. ***
SFPUSDT (SFP) - UPTREND CONTINUATION ANALYSIS 🔎
- SFPUSDT retraced for a retest of the ascending channel support and 0.618 fibonacci retracement level.
- The retracement was bounded in a falling wedge pattern.
- This is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance and is currently retesting the falling wedge's resistance.
- Possible uptrend continuation.
BUY ENTRY ⬆️
- Current market price (now).
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
- Ascending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the swing low horizontal support level (S1) and ascending channel support.