BLOK/USDT BULLISH STRUCTURE

Bullish Structure from monthly all the way down to daily time frame

Situation in Monthly time frame

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We have an impulse and correction in monthly time frame. If you take the fibonacci from low to high we have a price action approaching the .618 fibonacci level. As we know the most tested level in fibonacci is the .618. We can definitely expect the price to respect the .618 before the continuation to the up-side.

Weekly

In weekly time frame we have the same situation that we have in Monthly.

Daily


In daily time frame If we take the fibonacci from low to high we can see that the price is respecting the .786 fibonacci level.
Also we have a M formation where we can definitely expect the completion to the Neckline.

Conclusion

In conclusion we can see that the structure in all the higher time frames is in confluence. In short term we can definitely expect the continuation to the upside at least to the neckline of the M formation. Also in long term we can expect a new higher high.

Сделка активна:

Price is on the way to the first target

Сделка активна:

Price came back to entry point but we can definitely expect the price to reach our first target

Сделка закрыта: достигнута тейк-профит цена

Сделка активна:

Our first target have been reach. Now we are aiming to our second target.