ANALYSIS 🔎
- VIDT/USDT is on an uptrend supported by the ascending trendline support.
The market hit a swing high and retraced.
- Price retesting the ascending trendline support and the key fibonacci retracement zone.
- There is a relatively high concentration of buyers at that zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above the descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry (more profitable): current market price.
- Conservative entry (higher success rate): breakout above the horizontal resistance level (@1.0391) and the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (@1.1743).
- Horizontal resistance level (@1.3599).
- Fibonacci extension level 1.0 (@1.5534).
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support and the horizontal support level (@0.9639).
- VIDT/USDT is on an uptrend supported by the ascending trendline support.
The market hit a swing high and retraced.
- Price retesting the ascending trendline support and the key fibonacci retracement zone.
- There is a relatively high concentration of buyers at that zone.
- The retracement is resisted by the descending trendline resistance.
- Breakout above the descending trendline resistance could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry (more profitable): current market price.
- Conservative entry (higher success rate): breakout above the horizontal resistance level (@1.0391) and the descending trendline resistance.
TARGETS 🎯
- Horizontal resistance level (@1.1743).
- Horizontal resistance level (@1.3599).
- Fibonacci extension level 1.0 (@1.5534).
SETUP INVALIDATION ❌
- Breakdown below the ascending trendline support and the horizontal support level (@0.9639).