DEFI Index, Move Below Well-Established Trend-Line, Objections!

Hi,

Welcome to this analysis about the DEFI Index, we are looking at the 6-hour timeframe perspectives. The Index recently has shown up with a sharp move below a well-established ascending-trend-line marked in my chart on which the Index severely bounced bullishly to the upside and now recently moved below it signaling it is now a serious resistance-line that should not be underestimated, mainly when the Index moves on the next times to test the remaining supports it is likely to emerge with a pullback from there because of the resistance-cluster. This does not mean the index will continue bearishly forever however it has to be elevated then how the index manages to confirm the dynamic-support-line as a reliable support to bounce and back up.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"The high destiny of the market is to explicate rather than to speculate."

Information provided is only educational and should not be used to take action in the market.