Price pushed back above the major volume area near 2.16 and buyers stepped in aggressively on the retest. Momentum is starting to shift back in favor of bulls as higher lows continue to form on the intraday structure.
What stands out here:
• Strong reclaim of previous resistance
• Ascending trendline still intact
• Price holding above key moving averages
• Volume profile showing acceptance in the current range
The current zone is important. Bulls want to see acceptance above resistance with continuation volume. If that happens, AR could start expanding into the next supply region.
On the bearish side, losing the recent support area would weaken the structure and likely trigger a rotation back into the lower range.
Right now this looks less like exhaustion and more like a market attempting continuation after consolidation.
Watch for confirmation, not emotion.
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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.
Check me out btdcrypto.com/links/
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.
