Let's start talking about the weekly perspective, the price has been following a strong uptrend, creating a pattern started at the end of March 2020, the price is actually around the dynamic resistance of that pattern.
In the , since the end of October, the price got a strong impulse on the dynamic support of the (see the level at about 0.59593), it moved up reaching and retesting the weekly trendline.
In the h4 chart, we can see the price getting a double rejection on the at about 0.62338, and since that moment it started a clear (many rejections on the dynamic of the channel are an extra confirmation on this pattern).
On the 6th of January, the price reached again the weekly trendline and it retested the same zone more times without breaking it.
The next price action around this zone will be essential to understand the next market movement.
The price has actually reached the dynamic support of its , at the same time we can see the price retesting a previous daily at about 0.63739.
I'm confident to see the price grows with a scenario, trying to reach the channel's resistance.
If the price will show us a clear rejection, we could definitely start planning a long position!
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