:
🔍 Technical Analysis:
Resistance Zones (Purple Rectangles at the Top)
The price recently hit a resistance area around $92,000.
It also tested an ascending trendline (red line) and failed to break higher.
Support Zones (Purple Rectangles at the Bottom)
There are two significant support areas:
First zone around $87,500 - $88,000.
Second zone around $82,000 - $83,000.
Bearish Expectation (Black Arrow)
The price is projected to break down from the current level.
A potential lower high formation suggests further decline.
Target areas: $88,000 first, then possibly $82,000.
🔥 Conclusion
Bearish bias if the price fails to reclaim the resistance.
A breakdown below $88,000 could accelerate the drop.
Watch for rejection signals at resistance zones before confirming short trades.
🔍 Technical Analysis:
Resistance Zones (Purple Rectangles at the Top)
The price recently hit a resistance area around $92,000.
It also tested an ascending trendline (red line) and failed to break higher.
Support Zones (Purple Rectangles at the Bottom)
There are two significant support areas:
First zone around $87,500 - $88,000.
Second zone around $82,000 - $83,000.
Bearish Expectation (Black Arrow)
The price is projected to break down from the current level.
A potential lower high formation suggests further decline.
Target areas: $88,000 first, then possibly $82,000.
🔥 Conclusion
Bearish bias if the price fails to reclaim the resistance.
A breakdown below $88,000 could accelerate the drop.
Watch for rejection signals at resistance zones before confirming short trades.
Trade active
Trade closed: target reached
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join my tellegram channel
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join my refferal broker
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t.me/JaMesGoldFiGhteR786
join my refferal broker
xmglobal.com/referral?token=S4yGyqPUmU9uAANtb_YUoA
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.