SFPUSDT (SFP) - UPTREND CONTINUATION
ANALYSIS 🔎
- SFPUSDT retraced for a retest of the ascending channel support and 0.618 fibonacci retracement level.
- The retracement was bounded in a falling wedge pattern.
- This is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance and is currently retesting the falling wedge's resistance.
- Possible uptrend continuation.
BUY ENTRY ⬆️
- Current market price (now).
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
- Ascending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the swing low horizontal support level (S1) and ascending channel support.
- SFPUSDT retraced for a retest of the ascending channel support and 0.618 fibonacci retracement level.
- The retracement was bounded in a falling wedge pattern.
- This is a bullish reversal pattern.
- Price brokeout above the falling wedge's resistance and is currently retesting the falling wedge's resistance.
- Possible uptrend continuation.
BUY ENTRY ⬆️
- Current market price (now).
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Fibonacci extension levels.
- Ascending channel resistance.
SETUP INVALIDATION ❌
- Breakdown below the swing low horizontal support level (S1) and ascending channel support.
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