But now the price movement is also corrected by the strong resistance line that was formed in March 2020. The price touched this line in September, then at the beginning of December last year. And since December, the price has not once tried to break through this line, but has invariably fallen after touching it.
At the beginning of last week, the price came to this resistance line at 0.907 and dropped to the 0.893 resistance. The price even managed to drop minimally behind the line, but I am convinced that this breakout will turn out to be false. Since this support-resistance line is much stronger than the line from which the price fell. In addition, we have examples - false breakouts in November, after which the price resumed its growth.
Now I expect the price to return to the line, fix on it and start a new rise. The price will come to the resistance line 0.905. This is our goal.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻