ATA/USDT Price action analysis: Formed triangle and my target.
We now observe a new resistance that forms a triangle.
However, we will be interested in the resistance wall of this triangle.
As soon as we break it down & confirm it in support, I will expect a bullish move.
I will want to see a thorough confirmation so that there is not only a wick left, as in the previous case.
Each subsequent Fibonacci level indicates resistance.
In order for any bullish movement to continue, it will be necessary to break through & confirm the upcoming Fibonacci level in support so that further resistance can continue.
My first targer should be zone in green box where is confluence 0.5 Fibo level + Peak of Volume profile, this zone is the real magnet.
We are monitoring this situation and more inform will be shared in our group.
Happy trading, Alex_UCT
However, we will be interested in the resistance wall of this triangle.
As soon as we break it down & confirm it in support, I will expect a bullish move.
I will want to see a thorough confirmation so that there is not only a wick left, as in the previous case.
Each subsequent Fibonacci level indicates resistance.
In order for any bullish movement to continue, it will be necessary to break through & confirm the upcoming Fibonacci level in support so that further resistance can continue.
My first targer should be zone in green box where is confluence 0.5 Fibo level + Peak of Volume profile, this zone is the real magnet.
We are monitoring this situation and more inform will be shared in our group.
Happy trading, Alex_UCT