Possible bearish breakout and why
My analysis show that bears have the upper hand as the changed the trend a bit by breaking below the CHoC and currently the price is now in a range between support and resistance
Since bears had a potential market control we can assume that the range is likely to be broken below(support) all the way to the Demand level and this will confirm bears are in control of the price and we should look for selling opportunities
so all in all wait for a break below before entering, market confirmation is important
Since bears had a potential market control we can assume that the range is likely to be broken below(support) all the way to the Demand level and this will confirm bears are in control of the price and we should look for selling opportunities
so all in all wait for a break below before entering, market confirmation is important
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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.