Long
REEFUSD (REEF) - UPTREND CONTINUATION
ANALYSIS 🔎
- REEFUSD hit a swing high and retraced.
- Price retested the flip horizontal support, 0.618 fibonacci retracement level and ascending channel support.
- The retracement is bounded in a bullish flag pattern.
- Breakout above the bullish flag could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry (risky) : market price (now).
- Conservative entry : Breakout above the bullish flag pattern's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support.
- REEFUSD hit a swing high and retraced.
- Price retested the flip horizontal support, 0.618 fibonacci retracement level and ascending channel support.
- The retracement is bounded in a bullish flag pattern.
- Breakout above the bullish flag could be an uptrend continuation signal.
BUY ENTRY ⬆️
- Aggressive entry (risky) : market price (now).
- Conservative entry : Breakout above the bullish flag pattern's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Ascending channel resistance.
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the ascending channel support.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.