Price is getting squeezed between a falling trendline and a rising support. This type of compression usually ends with a strong move. A clean descending trendline from the recent swing-high shows short-term selling pressure. A major rising trendline from the bottom still holds the structure.
Price is drifting towards the intersection zone of both trendlines. If price taps the rising trendline and holds, a bounce + trendline breakout is possible.
Save this setup — this zone decides the next trend.
Price is drifting towards the intersection zone of both trendlines. If price taps the rising trendline and holds, a bounce + trendline breakout is possible.
Save this setup — this zone decides the next trend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.