REEF Breakout Alert! 🚀 Get Ready for Potential Bullish Momentum
đź’ŽREEF has recently broken out of a resistive trendline and formed a W pattern, which increases the likelihood of a bullish move, especially after a retest of the resistance zone.
đź’ŽFollowing the retest of the resistance zone, we can anticipate price targets towards the next resistant zones. However, if the price falls back below the resistance zone, it may trap breakout traders, potentially leading to a downward move. In such a case, it would be prudent to anticipate a bounce from the demand area.
đź’ŽNevertheless, if REEFUSDT also breaks down below the demand area, it would be advisable to refrain from trading REEF in that scenario and wait for clearer price action to develop.
đź’ŽFollowing the retest of the resistance zone, we can anticipate price targets towards the next resistant zones. However, if the price falls back below the resistance zone, it may trap breakout traders, potentially leading to a downward move. In such a case, it would be prudent to anticipate a bounce from the demand area.
đź’ŽNevertheless, if REEFUSDT also breaks down below the demand area, it would be advisable to refrain from trading REEF in that scenario and wait for clearer price action to develop.
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