Entry Zone:
The market has recently experienced a sharp rise, reaching a key resistance area at approximately 145$
This level coincides with the 61.8% Fibonacci retracement level, making it a potential reversal zone.
The price is now pulling back, indicating a possible opportunity for a short entry around this area.
Target:
Targeting the key high 175
Stop Loss:
Place a stop loss below 38$ ish
Trade Rationale:
After a strong rally breakount of the accumulation range the market has begun to show signs of strength.
This 61.8% Fibonacci retracement is a perfect setup for continuation.
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๐Keep an eye on the charts and your portfolio, and remember: DYOR -Crypto is always changing, so stay informed before jumping in! ๐๐ธ
Binance Square Family...โค๏ธโ๐ฅโค๏ธโ๐ฅ
I hope this analysis has been helpful to you. If you have any questions, please feel free to leave a comment. I'm always happy to help.
I appreciate your support!
