Initially, the price rejected the resistance zone and broke below the 4H ascending trendline, signaling a potential shift in momentum. It then retraced back to the resistance area, executing a false breakout, followed by a retest of the broken trendline — a classic liquidity grab setup to fuel further downside movement. This retest generated strong bearish momentum, leading to a breakdown of the second ascending trendline, similar to the previous price behavior.
At this stage, we anticipate a potential retest of the second trendline from below, which could act as new resistance before the bearish continuation resumes."
At this stage, we anticipate a potential retest of the second trendline from below, which could act as new resistance before the bearish continuation resumes."
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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.