đ $SFP is showing a potential technical setup!
The weekly chart displays a long-term double bottom formation following a prolonged corrective phase, setting the stage for a potential upward expansion.
đ The Technical Setup:
⢠The Pattern: Double Bottom Accumulation
⢠Short-term Target: 0.55 USDT
⢠Macro Objective: 0.60 USDT
⢠Market Structure: Reversal
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: 0.20 - 0.22 USDT
⢠Resistance: 0.40 USDT
⢠Breakout Level: 0.32 USDT
⢠Stop Loss / Invalidation: 0.20 USDT
đ Confirmation:
⢠Volume: Neutral/standard volume
⢠Momentum: Bullish recovery candles forming on the weekly timeframe
⢠Trend: Potential macro trend reversal from double bottom lows
â ď¸ Invalidation:
A weekly close below the 0.20 USDT swing low support zone would invalidate the bullish setup.
Keep an eye on this range as price attempts to confirm the macro reversal pattern.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#sfp #crypto #BinanceSquare #tradingview #TechnicalAnalysis
The weekly chart displays a long-term double bottom formation following a prolonged corrective phase, setting the stage for a potential upward expansion.
đ The Technical Setup:
⢠The Pattern: Double Bottom Accumulation
⢠Short-term Target: 0.55 USDT
⢠Macro Objective: 0.60 USDT
⢠Market Structure: Reversal
đŻ Key Levels to Watch:
⢠Support / Accumulation Zone: 0.20 - 0.22 USDT
⢠Resistance: 0.40 USDT
⢠Breakout Level: 0.32 USDT
⢠Stop Loss / Invalidation: 0.20 USDT
đ Confirmation:
⢠Volume: Neutral/standard volume
⢠Momentum: Bullish recovery candles forming on the weekly timeframe
⢠Trend: Potential macro trend reversal from double bottom lows
â ď¸ Invalidation:
A weekly close below the 0.20 USDT swing low support zone would invalidate the bullish setup.
Keep an eye on this range as price attempts to confirm the macro reversal pattern.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#sfp #crypto #BinanceSquare #tradingview #TechnicalAnalysis
