ANALYSIS 🔎
- 1INCH/USDT brokeout above the inverse head and shoulders neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.7 - 0.786) and the inverse head and shoulders neckline resistance turned support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be at the verge of an uptrend continuation.
BUY ENTRY ⬆️
- The key fibonacci retracement zone (0.618 - 0.7 - 0.786).
TARGETS 🎯
- Horizontal resistance level (@4.761).
- Horizontal resistance level (@7.730).
- Fibonacci extension level 1.0 (@9.091).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@2.214).
- 1INCH/USDT brokeout above the inverse head and shoulders neckline resistance, hit a swing high and retraced.
- Price is retesting the key fibonacci retracement zone (0.618 - 0.7 - 0.786) and the inverse head and shoulders neckline resistance turned support.
- There's a relatively high concentration of buyers at this zone (high buying pressure).
- We could be at the verge of an uptrend continuation.
BUY ENTRY ⬆️
- The key fibonacci retracement zone (0.618 - 0.7 - 0.786).
TARGETS 🎯
- Horizontal resistance level (@4.761).
- Horizontal resistance level (@7.730).
- Fibonacci extension level 1.0 (@9.091).
SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level (@2.214).