Point of interest right now as we are sitting at a demand zone which price is expected to react however we are coming from a downtrend structure after the bulls got exhausted this could be another correction and/or the uptrend resumes.
1. We get a false breakdown, I believe it will touch 0.30 and buy orders would get triggered.
If that happens then we would at 4h a bullish pattern we can trade and target next supply zone.
Target Upper Downward Channel area: 0.37 - 0.40
2. This level gets pierced through and in that case, we expect price to decline to the next demand zone.
Target Next Demand Zone: 0.24 - 0.20
I'll update as I see this playing out.
All the best,
Kina🤯
1. We get a false breakdown, I believe it will touch 0.30 and buy orders would get triggered.
If that happens then we would at 4h a bullish pattern we can trade and target next supply zone.
Target Upper Downward Channel area: 0.37 - 0.40
2. This level gets pierced through and in that case, we expect price to decline to the next demand zone.
Target Next Demand Zone: 0.24 - 0.20
I'll update as I see this playing out.
All the best,
Kina🤯
Comment:
We see RSI printing bullish divergence. This could reverse altogther! Let's wait for a false break pattern or break above 0.31 to start reversing.
Trade closed: target reached:
Short trade success per 2nd scenario above: Target Next Demand Zone: 0.24 - 0.20
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