Hello, I'm Camila.
Price declined decisively, reflecting strong bearish momentum as sellers maintained clear control over the market. However, once price reached a key support area, selling pressure began to fade, suggesting that buyers were starting to show interest.
This was followed by a strong rebound that broke above the short-term descending trendline, marking the first meaningful sign of a potential trend shift. This breakout indicates that buyers are returning to the market and actively attempting to regain control.
The immediate upside target is located around the 107,000 USD area, which aligns with the 0.5–0.618 Fibonacci retracement zone. This region often acts as a magnet for price, attracting corrective moves before the market commits to its next directional decision.
If buyers are able to hold above the recent breakout level and build momentum, a deeper recovery move may unfold. On the other hand, failure to sustain price above this level could lead to a pullback into the demand zone for a retest before the next advance.
In summary, buyers are cautiously probing the market. The key question now is whether they can maintain control above the breakout point and confirm the shift in market structure.
Wishing you disciplined and successful trading.
Price declined decisively, reflecting strong bearish momentum as sellers maintained clear control over the market. However, once price reached a key support area, selling pressure began to fade, suggesting that buyers were starting to show interest.
This was followed by a strong rebound that broke above the short-term descending trendline, marking the first meaningful sign of a potential trend shift. This breakout indicates that buyers are returning to the market and actively attempting to regain control.
The immediate upside target is located around the 107,000 USD area, which aligns with the 0.5–0.618 Fibonacci retracement zone. This region often acts as a magnet for price, attracting corrective moves before the market commits to its next directional decision.
If buyers are able to hold above the recent breakout level and build momentum, a deeper recovery move may unfold. On the other hand, failure to sustain price above this level could lead to a pullback into the demand zone for a retest before the next advance.
In summary, buyers are cautiously probing the market. The key question now is whether they can maintain control above the breakout point and confirm the shift in market structure.
Wishing you disciplined and successful trading.
Trade active
💎 Join my private signal group for Gold, Forex & Bitcoin, where strategy meets discipline
👉🏻 t.me/+eI88_T2fcIE0MTVl
👉🏻 t.me/+eI88_T2fcIE0MTVl
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.
💎 Join my private signal group for Gold, Forex & Bitcoin, where strategy meets discipline
👉🏻 t.me/+eI88_T2fcIE0MTVl
👉🏻 t.me/+eI88_T2fcIE0MTVl
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.