CANDLE MASTER UPDATE!
with a structured roadmap for a potential move upward based on price zones, fair value gap (FVG), and market structure. Here's a breakdown of the idea:
🔍 Key Elements of the Analysis:
Support Zone (Demand)
Price bounced twice off the marked support zone (~3,200 - 3,260 USD).
These reactions are supported by the 200 EMA (blue), indicating strong underlying demand.
The green arrows highlight bullish rejections from this area, showing buyers stepping in.
Fair Value Gap (FVG)
Price broke through a previous consolidation zone, now labeled as FVG (Fair Value Gap).
The recent bullish momentum filled this imbalance, suggesting strength from bulls.
Resistance Zone
Above the current level lies a resistance zone (~3,480 - 3,520 USD).
This is the next likely obstacle, and the projection shows a temporary pullback here before a continuation.
Bullish Projection
The chart outlines a potential move toward 3,634 USD, marked as the ultimate bullish target.
Two projected upward legs of 4.83% and 4.50% show how the price might move in phases:
Leg 1: From current to resistance
Leg 2: From resistance to final target
Moving Averages
50 EMA (red) is turning upward, crossing over recent candles, supporting near-term bullish bias.
200 EMA (blue) is rising, showing long-term bullish support.
🧠 Trading Insight:
A pullback to the FVG zone could provide a secondary entry (buy-the-dip).
Bullish confirmation (e.g., bullish engulfing or breakout from resistance) can strengthen conviction toward 3,634.
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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.