***So what kind of strategy are we going to examine?
The price is likely to receive an upside reaction from a significant support level.
We need to determine an appropriate buy level.
$72.50 support level,
$82.50 resistance level,
The price has a $10 range of movement.
Breaking the $82.50 resistance level will be a very important signal that the uptrend has started.
Trading-scalping-short term transactions can be tried between $82.50-$72.50 level.
But I don't think the price will linger in this region much, because weekly and monthly timeframes are getting stronger in the bullish direction.
As a result of the long-term uptrend, the target of the price may be around $105-$115.
For long and medium-term trade-buying/selling, a partial buy-sell strategy can be applied. (I will explain in other examples).
The price is likely to receive an upside reaction from a significant support level.
We need to determine an appropriate buy level.
$72.50 support level,
$82.50 resistance level,
The price has a $10 range of movement.
Breaking the $82.50 resistance level will be a very important signal that the uptrend has started.
Trading-scalping-short term transactions can be tried between $82.50-$72.50 level.
But I don't think the price will linger in this region much, because weekly and monthly timeframes are getting stronger in the bullish direction.
As a result of the long-term uptrend, the target of the price may be around $105-$115.
For long and medium-term trade-buying/selling, a partial buy-sell strategy can be applied. (I will explain in other examples).