ALICE/USDT, 1H timeframe.

Price travelled from the major resistance zone at the price around 8.5000 down to 6.8000 to form a consolidation area. The price couldn't break above the minor support turned resistance. Bearish pressure took the price down to form a major support at price 4.7000. Since then, price formed a chart pattern named Pennant . A continuous bullish pressure above the resistance trendline will further push the price to the minor resistance zone . A continuous bearish pressure below the minor support zone will push the price down to the major support zone .


Cheers!

Comments

Good analysis!
So do you recommend buying now?
When do you expect to reach the target (6.8)
+1 Reply
@abdullahloulou i recommend a breakout above the resistance trendline. then i will buy to 6.8

more so, there might be a retracement when price gets to 6.8 and a further bullish pressure above that zone will make me to buy again to 7.6
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