if you look at the shape of the swing structure that occurs, at first glance it looks like a cup & handle pattern will occur. we only assume based on market habits, usually if a curve like this has been formed, another shape will occur.
At least we can anticipate, if you want to go long, it's better to wait until the price retraces in the H4/D1 Support area.
Looking at the position of the fibo extension, it also supports the analysis that this pair is likely to be bullish until the D1 Resistance area where the area is also the fibo extension point of 2,618.
At least we can anticipate, if you want to go long, it's better to wait until the price retraces in the H4/D1 Support area.
Looking at the position of the fibo extension, it also supports the analysis that this pair is likely to be bullish until the D1 Resistance area where the area is also the fibo extension point of 2,618.
