ANALYSIS 🔎
- GRTUSDT was bounded in the descending triangle (DT) pattern.
- Price brokeout above the descending triangle's inclined resistance.
- This is a bullish signal.
- The market hit a swing high and retraced.
- Price is retesting the descending triangle's inclined resistance and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
-There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance (DTR).
- A breakout above this descending trendline resistance could be a bullish signal.
BUY ENTRY ⬆️
- Stop limit entry : breakout above the descending trendline resistance.
- Limit entry : the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.
- GRTUSDT was bounded in the descending triangle (DT) pattern.
- Price brokeout above the descending triangle's inclined resistance.
- This is a bullish signal.
- The market hit a swing high and retraced.
- Price is retesting the descending triangle's inclined resistance and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
-There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance (DTR).
- A breakout above this descending trendline resistance could be a bullish signal.
BUY ENTRY ⬆️
- Stop limit entry : breakout above the descending trendline resistance.
- Limit entry : the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.