๐ $BBX is showing a potential technical setup!
The daily chart highlights BBX/USDT consolidating near the 0.786 Fibonacci retracement level following a multi-month range structure.
๐ The Technical Setup:
โข The Pattern: Range Consolidation with Fibonacci Retracement Levels
โข Short-term Target: 9.038 (0.786 Fib)
โข Macro Objective: 10.145 (0.5 Fib)
โข Market Structure: consolidation
๐ฏ Key Levels to Watch:
โข Support / Accumulation Zone: 8.210 - 8.500
โข Resistance: 9.038 - 9.688
โข Breakout Level: 9.038
โข Stop Loss / Invalidation: 8.210
๐ Confirmation:
โข Volume: Neutral/standard volume
โข Momentum: Price testing the 0.786 Fibonacci level with consolidating candles
โข Trend: Range bound between support and resistance levels on the daily chart
โ ๏ธ Invalidation:
A daily candle close below the 8.210 support level would invalidate the setup.
Patience is required while price tests key Fibonacci resistance to determine the next directional move.
๐ Creator: NOUMAN_DON (@NOUMAN_DON)
#BBX #crypto #BinanceSquare #Binance #NOUMAN_DON
The daily chart highlights BBX/USDT consolidating near the 0.786 Fibonacci retracement level following a multi-month range structure.
๐ The Technical Setup:
โข The Pattern: Range Consolidation with Fibonacci Retracement Levels
โข Short-term Target: 9.038 (0.786 Fib)
โข Macro Objective: 10.145 (0.5 Fib)
โข Market Structure: consolidation
๐ฏ Key Levels to Watch:
โข Support / Accumulation Zone: 8.210 - 8.500
โข Resistance: 9.038 - 9.688
โข Breakout Level: 9.038
โข Stop Loss / Invalidation: 8.210
๐ Confirmation:
โข Volume: Neutral/standard volume
โข Momentum: Price testing the 0.786 Fibonacci level with consolidating candles
โข Trend: Range bound between support and resistance levels on the daily chart
โ ๏ธ Invalidation:
A daily candle close below the 8.210 support level would invalidate the setup.
Patience is required while price tests key Fibonacci resistance to determine the next directional move.
๐ Creator: NOUMAN_DON (@NOUMAN_DON)
#BBX #crypto #BinanceSquare #Binance #NOUMAN_DON
