Alikze »» IO | Short -running channel

🔍 Technical analysis: Short -running channel
- The one -hour frame is moving after a modification in a short ascending channel.
- In the middle of the canal and in the area of ​​resistance density.
- If it can be located above the area, it can have up to 6.25 channel ceiling and can grow with the middle of the canal to the supply area if the reaction.
💎 Alternative scenario: If it fails to break the resistance range and face the channel failure, it can modify the green box after the money.
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Comment:

At the moment, it has broken the resistance range with a high buying pressure candle, which has faced selling pressure when it collides with the middle of the channel, which can be the pullback to the broken structure for the target of $6.25.

Comment:

After not being able to stabilize the top of the supply area, it has had a corrective trend up to the green box.

Comment:

After not confirming above the supply area, it has followed a downward path. Currently, it is moving in a downward channel, in the middle of the channel, if it is fixed under the green box, it can continue the downward path and extend to the bottom of the channel and to the $3.12 range. If it is confirmed above the range, it can retest up to the ceiling of the supply area channel. Critical resistance: $4.69.

Comment:

According to the provided movement path, it has touched the target of 3.125 and faced the demand which can retest the supply area at the moment.