RXRX Jan 7th 2025
GT + FIB + previous high.
Fibonacci Retracement Bounce:
The price is bouncing near the 0.5 Fibonacci retracement level, which is a common support zone in an uptrend. This suggests buyers are stepping in at this level.
Risk-to-Reward Ratio:
The trade setup shows a favorable risk-to-reward ratio (~4:1), with the potential upside significantly larger than the downside.
Bullish Structure:
The price has been making higher highs and higher lows, indicating a clear uptrend on the 4-hour chart.
Consolidation Near Support:
The price appears to be consolidating near a strong support zone (~$7.40), which could act as a launching point for further upward movement.
Breakout Potential:
If the price clears the resistance near $7.80–$8.00, there’s a potential move toward $9.00 and above (a 22% upside as indicated on the chart).
Fibonacci Retracement Bounce:
The price is bouncing near the 0.5 Fibonacci retracement level, which is a common support zone in an uptrend. This suggests buyers are stepping in at this level.
Risk-to-Reward Ratio:
The trade setup shows a favorable risk-to-reward ratio (~4:1), with the potential upside significantly larger than the downside.
Bullish Structure:
The price has been making higher highs and higher lows, indicating a clear uptrend on the 4-hour chart.
Consolidation Near Support:
The price appears to be consolidating near a strong support zone (~$7.40), which could act as a launching point for further upward movement.
Breakout Potential:
If the price clears the resistance near $7.80–$8.00, there’s a potential move toward $9.00 and above (a 22% upside as indicated on the chart).
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.