💎HOOK has recently demonstrated notable market dynamics. It has successfully broken out of a descending channel pattern, signaling a potential upward movement. However, it is currently in a retesting phase at the trendline.
💎 The next target for upward movement is the resistance area around 1.05. If HOOK manages to break above this resistance, we could witness significant upward momentum, probability leading to our target Bearish Order Block (OB) area.
💎 However, if HOOK fails to break out above the resistance and faces rejection, the price may retreat downward, possibly returning to the demand area or the supporting trendline to establish new momentum.
💎 As long as HOOK remains above the demand area, there is still a chance for a bounce and subsequent upward movement. However, a breakdown below the demand area could signify a bearish momentum, leading the price further downward towards the strong support area.