ANALYSIS 🔎
- BADGERUSDT was bounded in the falling wedge pattern.
- A falling wedge pattern is a bullish reversal pattern
- Price brokeout above the falling wedge's resistance as expected.
- The market then retraced for a retest.
- Price is retesting the falling wedge's resistance, ascending trendline support (ATS) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this retest zone.
- The retracement is resisted by the descending trendline resistance (DTR).
- Breakout above this trendline resistance could be a bullish signal.
BUY ENTRY ⬆️
- Breakout above the descending trendline resistance (DTR).
TARGETS 🎯
- Horizontal resistance level (R1).
- Fibonacci extension levels.
- Horizontal resistance level (R2).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level and the ascending trendline support (ATS)
- BADGERUSDT was bounded in the falling wedge pattern.
- A falling wedge pattern is a bullish reversal pattern
- Price brokeout above the falling wedge's resistance as expected.
- The market then retraced for a retest.
- Price is retesting the falling wedge's resistance, ascending trendline support (ATS) and key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's a relatively high concentration of buyers at this retest zone.
- The retracement is resisted by the descending trendline resistance (DTR).
- Breakout above this trendline resistance could be a bullish signal.
BUY ENTRY ⬆️
- Breakout above the descending trendline resistance (DTR).
TARGETS 🎯
- Horizontal resistance level (R1).
- Fibonacci extension levels.
- Horizontal resistance level (R2).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level and the ascending trendline support (ATS)