BAKEUSDT { BAKERY TOKEN } - BULLISH SETUPANALYSIS 🔎
- BAKEUSDT hit an swing and retraced to the key fibonacci retracement level.
- Price is currently ranging in a rectangular consolidation pattern.
- This rectangular consolidation pattern is known as the accumulation phase (Wyckoff method).
- The accumulation phase is a pre uptrend phase (bullish build up pattern).
- There's a breakout potential.
BUY ENTRY ⬆️
- Stop limit entry: breakout above the rectangular consolidation pattern's horizontal resistance (@2.2194).
- Market entry: current market price.
- Limit entry: test of the rectangular consolidation pattern's horizontal support (@1.7982).
TARGETS 🎯
- Fibonacci extension levels.
SETUP INVALIDATION ❌
- Breakdown below the rectangular consolidation pattern's horizontal support (@1.7982).
