Setup: breakout & retest of multiyear SR zone (65-74k)
It is currently in accumulation under the 90k level / under the 20W ema
Trade idea :
The 65-74k area which held as resistance for 3+ years from 2021-24, was broken and is now being tested as support.
It is currently in accumulation under the 90k level / under the 20W ema
Trade idea :
- Good area to start entering for a longer time horizon (multi-month)
- Can target all-time-high levels of around 110k initially - & can hold some for price discovery later into the year.
- Invalidation of this idea would be a weekly close below 59k.
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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.