After the strong sell-off, price formed a base and started creating higher lows, showing early signs of bullish strength. We also saw a break of structure to the upside, indicating a shift in momentum.
Right now, price is consolidating in a tight range, which usually means accumulation before the next move. As long as this higher low holds, the bullish momentum is still valid.
Bias: BUY
I’m expecting price to continue pushing up from this area towards the 4963 resistance/target zone.
If price gives a small dip, it can be used as a better entry, but overall direction remains bullish for now.
Right now, price is consolidating in a tight range, which usually means accumulation before the next move. As long as this higher low holds, the bullish momentum is still valid.
Bias: BUY
I’m expecting price to continue pushing up from this area towards the 4963 resistance/target zone.
If price gives a small dip, it can be used as a better entry, but overall direction remains bullish for now.
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.
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.