Despite the recent fairly strong correction, the price is starting to move in an upward direction again. On a large timeframe, you can see how the price failed to overcome the main support zone and retested this accumulation zone. Buyer activity has also recovered again on the 1W timeframe. The picture looks good for continued growth. Therefore, in the coming...
At the moment, the price is moving within the ascending channel and testing its lower border, where it is likely to show growth. The trend is still upward and there are no signs of a reversal. I will consider the bearish scenario only when the price exits and fixes under the ascending channel at an increased volume, but for now the ascending movement is in priority.
On the daily timeframe, the price moves in the trend continuation pattern. At the moment, we are at the lower border, where we can approach up. Purchases are still a priority. The situation will change only when the price goes down and is fixed under the figure.
On the chart, there is a noticeable narrowing of the borders of consolidation, a triangle was formed, which is a figure for the continuation of the trend. Also noticeable is the local pattern of Inverse Head and Shoulders, which also works up. Therefore, the probability of the price going up, at the moment, is high.
The other day, there was a sharp drain, which is very similar to the squiz, such movements are usually made to collect stop losses and therefore liquidity. A long shadow formed on the 4-hour candle. The price tested its mirror support level, which I wrote about several times in previous publications. Therefore, in the near future, growth is more likely than the...
On local timeframes, we have an extremely organic upward movement on large volumes. Today, there was a correction and retest of the global, mirror support zone, which was previously the main resistance zone. Therefore, in the near future, continued growth looks very likely.
On the 1m timeframe reversal Head and Shoulders was formed. The price approaches the main resistance - the level of the neck of the hype. The trend is now strictly upward. In the near future, there is a high probability of its continuation.
On the chart, there is a noticeable compression to the resistance. You can also note the reluctance of the price to update the lows, which is why a smooth reversal is formed. You can also see an inverted Head and Shoulders based on this, at the moment, the growth is most likely To observe the reaction of the price to the resistance zone.
On the 1D timeframe, the recent downward movement can be considered as a false breakout of the ascending channel. The local picture is also quite bullish now, on the 4H timeframe. formed an inversed Head and Shoulders. Therefore, at the moment, while the price is within the boundaries of the ascending channel, an upward movement is most likely.
Despite yesterday's correction, the upward movement remains a priority. The Head and Shoulders is formed on the 4-hour timeframe. Therefore, I am waiting for confirmation of the pattern and its development up to the 9700 mark.
Under the previous idea I wrote about the fact that the price is more likely to continue the upward movement. Now a bullish pennant has formed on the 4 o'clock timeframe, which confirms the bullish mood. Therefore, in the near future, we are likely to see another upward momentum.
At the moment, on the 1D timeframe, the price is under the local resistance level and as long as it is kept under it, the probability of continuing the decline is high. The growth scenario can only be considered if the price is fixed above the resistance. Now, it is quite possible to expect a hike in the price to the 9200 zone and there you will need to monitor...