🚀 $NIGHT is showing a potential technical setup!
The weekly chart shows a strong rebound attempt following a prolonged downtrend, bouncing directly from the 2.618 Fibonacci extension zone.
📈 The Technical Setup:
• The Pattern: Fibonacci Retracement Bounce & Reversal Range
• Short-term Target: 0.03995
• Macro Objective: 0.04513
• Market Structure: reversal
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.01700 - 0.01803
• Resistance: 0.03995
• Breakout Level: 0.03222
• Stop Loss / Invalidation: 0.01700
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Strong green weekly candle pushing upwards after testing the 2.618 Fib extension level
• Trend: Potential reversal following a sustained macro downtrend
⚠️ Invalidation:
A weekly close below the 0.01700 support area would invalidate this potential recovery setup.
The asset is attempting a relief rally from the 2.618 Fibonacci level, but confirmation is needed above immediate resistance.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#night #crypto #BinanceSquare #Binance #bitcoin
The weekly chart shows a strong rebound attempt following a prolonged downtrend, bouncing directly from the 2.618 Fibonacci extension zone.
📈 The Technical Setup:
• The Pattern: Fibonacci Retracement Bounce & Reversal Range
• Short-term Target: 0.03995
• Macro Objective: 0.04513
• Market Structure: reversal
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 0.01700 - 0.01803
• Resistance: 0.03995
• Breakout Level: 0.03222
• Stop Loss / Invalidation: 0.01700
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Strong green weekly candle pushing upwards after testing the 2.618 Fib extension level
• Trend: Potential reversal following a sustained macro downtrend
⚠️ Invalidation:
A weekly close below the 0.01700 support area would invalidate this potential recovery setup.
The asset is attempting a relief rally from the 2.618 Fibonacci level, but confirmation is needed above immediate resistance.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#night #crypto #BinanceSquare #Binance #bitcoin
