🔸The price has been in a for several months, generating a clear rise, but with a very slow movement (we can compare the time it took to move in that price range in the previous downtrend).
🔸It is very close to the confluence zone between the Ascending Trendline and the .
🔸We will not take any position until the price reaches that level. Once that happens, we take two possible scenarios.
🔸The first is the scenario, where an upward breakout occurs in this zone, and the price begins a momentum towards the next resistance.
🔸And the second is the scenario, where the price cannot penetrate the and generates a downward movement to retest the bottom of the .
🔸In both situations, we will wait for a confirmation in a lower timeframe to be able to make a decision.
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