Long
BITQUENCE (BQX/BTC) - REVERSAL TRADE
= ELEMONT FX =
Analysis:
- Bitquence has found support (between 61.8% - 78.6% fibs) after a previous breakout
- Reversal trade using fibs as resistance levels
- We expect price to retest key points of its breakout and then either confirm a continuation higher or lower
- If price closes below support, we expect further short-term downside
Reversal Targets
1. 43,600
2. 45,000
3. 47,250
4. 49,500
Analysis:
- Bitquence has found support (between 61.8% - 78.6% fibs) after a previous breakout
- Reversal trade using fibs as resistance levels
- We expect price to retest key points of its breakout and then either confirm a continuation higher or lower
- If price closes below support, we expect further short-term downside
Reversal Targets
1. 43,600
2. 45,000
3. 47,250
4. 49,500
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.