🚀 $RAVE : Are shorts trapped? Structure analysis 🚀
On the 15-minute chart of #RAVE, a classic manipulation is observed. After reaching the resistance zone (AOI), the price made a technical pullback, triggering premature selling. However, the aggressive reaction from the Fibonacci 'golden ratio' and the retention of the 0.618 zone confirm that the trend remains bullish.
What's next?
The current accumulation indicates preparation for a breakout of the Weak High level. We see the formation of a strong support base in the discount zone. If the price consolidates above the current local maximum, we can expect an impulse move to take out the shorts' stops and a march towards new targets.
🛡 Recommendation: Do not attempt to 'counter-trend' such a strong impulse. The priority is to work from long on the confirmation of a local break (I-CHoCH) in the direction of the main movement.
$RAVE #Long #BinanceSquare $RAVE
On the 15-minute chart of #RAVE, a classic manipulation is observed. After reaching the resistance zone (AOI), the price made a technical pullback, triggering premature selling. However, the aggressive reaction from the Fibonacci 'golden ratio' and the retention of the 0.618 zone confirm that the trend remains bullish.
What's next?
The current accumulation indicates preparation for a breakout of the Weak High level. We see the formation of a strong support base in the discount zone. If the price consolidates above the current local maximum, we can expect an impulse move to take out the shorts' stops and a march towards new targets.
🛡 Recommendation: Do not attempt to 'counter-trend' such a strong impulse. The priority is to work from long on the confirmation of a local break (I-CHoCH) in the direction of the main movement.
$RAVE #Long #BinanceSquare $RAVE