REEF/USDT Update: Looking for an upper breakout

12 Mei 2021

Reef did had a hard time and some bad news.
That's probably one of the main reasons it consolidates within the drawn triangle.
Upper resistance now was tested for 3 times and every time the resistance gets weakened.
We therefore assume to see an upper breakout soon.

So far we don't really have price targets since we would move into price discovery mode.
Set your target and enjoy the ride.
Entry zone is either the breakout or the retest.





Basic rules:
- Never buy the top/ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place

Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers

ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Yellow lines are for visual help only.
Boxes:
- Either entry zone or support zone. Check the description.