Price has been moving steadily inside an ascending channel, with buyers maintaining control and pushing higher.
If buyers manage to defend this breakout zone on a retest, it would confirm their control and follow continuation toward the channel’s upper boundary. However, if sellers step in and force a drop back below, that could hint at a false breakout and short-term pullback.
For now, momentum favors the buyers, as long as price holds above the breakout area, the bullish structure remains intact.
If buyers manage to defend this breakout zone on a retest, it would confirm their control and follow continuation toward the channel’s upper boundary. However, if sellers step in and force a drop back below, that could hint at a false breakout and short-term pullback.
For now, momentum favors the buyers, as long as price holds above the breakout area, the bullish structure remains intact.
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Related publications
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.