Price action showing trendline breakout & re-test
Breaking multi-month descending trendline
Support zone at 3,800-4,000 holding firm (tested 3x)
RSI: 57 - room to run
Targets:
🎯 First resistance: 4,600 (+9.5%)
🎯 Major resistance: 4,800 (+14%)
Structure:
The accumulation zone between 3,800-4,000 has absorbed selling pressure. Trendline break + higher low formation suggests momentum shift favoring buyers.
Watch:
Sustained move above 4,200 with participation confirms breakout. Support at 4,000 if retest occurs
⚠️ Disclaimer: This is NOT a buy/sell recommendation. For learning ONLY. Views are personal. Please, do your due diligence before investing.⚠️
🍀Cheers! 🔥
Breaking multi-month descending trendline
Support zone at 3,800-4,000 holding firm (tested 3x)
RSI: 57 - room to run
Targets:
🎯 First resistance: 4,600 (+9.5%)
🎯 Major resistance: 4,800 (+14%)
Structure:
The accumulation zone between 3,800-4,000 has absorbed selling pressure. Trendline break + higher low formation suggests momentum shift favoring buyers.
Watch:
Sustained move above 4,200 with participation confirms breakout. Support at 4,000 if retest occurs
⚠️ Disclaimer: This is NOT a buy/sell recommendation. For learning ONLY. Views are personal. Please, do your due diligence before investing.⚠️
🍀Cheers! 🔥
Anubrata Ray ⚡
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.
Anubrata Ray ⚡
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.