ATM/USDT { ATLETICO MADRID FAN TOKEN } - BULLISH SETUP
ANALYSIS 🔎
- ATM/USDT hit a swing high and retraced.
- Price is currently testing the key fibonacci retracement zone (0.618 - 0.7 - 0.786).
- The pullback retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- Price action is printing a symmetrical triangle pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Market entry: current market price.
- Stop limit entry: breakout above the symmetrical triangle's inclined resistance.
- Limit entry: test of the symmetrical triangle's inclined support.
TARGETS 🎯
- Horizontal resistance level (@16.50).
- Horizontal resistance level (@19.14).
- Horizontal resistance level (@24.79).
- Fibonacci extension levels 1.0 (@30.36).
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the symmetrical triangle's inclined support.
- Final invalidation: breakdown below the horizontal support level (@13.09).
- ATM/USDT hit a swing high and retraced.
- Price is currently testing the key fibonacci retracement zone (0.618 - 0.7 - 0.786).
- The pullback retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- Price action is printing a symmetrical triangle pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Market entry: current market price.
- Stop limit entry: breakout above the symmetrical triangle's inclined resistance.
- Limit entry: test of the symmetrical triangle's inclined support.
TARGETS 🎯
- Horizontal resistance level (@16.50).
- Horizontal resistance level (@19.14).
- Horizontal resistance level (@24.79).
- Fibonacci extension levels 1.0 (@30.36).
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the symmetrical triangle's inclined support.
- Final invalidation: breakdown below the horizontal support level (@13.09).
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