đ $SOXL is showing a potential technical setup!
The 1W timeframe on Binance displays a recent impulsive decline followed by a consolidation phase and a potential relief bounce forming around the 120.00-140.00 region.
đ The Technical Setup:
âą The Pattern: Range consolidation / potential base building
âą Short-term Target: 190.70
âą Macro Objective: 268.74
âą Market Structure: Consolidation
đŻ Key Levels to Watch:
âą Support / Accumulation Zone: 100.00 - 120.00
âą Resistance: 190.70 - 214.54
âą Breakout Level: 160.33
âą Stop Loss / Invalidation: 100.00
đ Confirmation:
âą Volume: Neutral/standard volume
âą Momentum: Bullish weekly reversal candle attempting a recovery
âą Trend: Corrective macro trend finding tentative support
â ïž Invalidation:
A decisive weekly close below 100.00 would invalidate this potential relief setup.
Monitor price action closely around key resistance zones to gauge strength.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#soxlbtrend #crypto #BinanceSquare #Binance #TechnicalAnalysis
The 1W timeframe on Binance displays a recent impulsive decline followed by a consolidation phase and a potential relief bounce forming around the 120.00-140.00 region.
đ The Technical Setup:
âą The Pattern: Range consolidation / potential base building
âą Short-term Target: 190.70
âą Macro Objective: 268.74
âą Market Structure: Consolidation
đŻ Key Levels to Watch:
âą Support / Accumulation Zone: 100.00 - 120.00
âą Resistance: 190.70 - 214.54
âą Breakout Level: 160.33
âą Stop Loss / Invalidation: 100.00
đ Confirmation:
âą Volume: Neutral/standard volume
âą Momentum: Bullish weekly reversal candle attempting a recovery
âą Trend: Corrective macro trend finding tentative support
â ïž Invalidation:
A decisive weekly close below 100.00 would invalidate this potential relief setup.
Monitor price action closely around key resistance zones to gauge strength.
đ Creator: NOUMAN_DON (@NOUMAN_DON)
#soxlbtrend #crypto #BinanceSquare #Binance #TechnicalAnalysis
