Fibonacci Levels:
Fibonacci retracement levels (0.236, 0.382, 0.5, 0.618, etc.) are marked.
Price is hovering near the 0.382 level (0.01656), acting as resistance.
Triangle Formation:
A symmetrical triangle formation is present, indicating price compression and the potential for a breakout.
An upward breakout targets the 1.618 Fibonacci level (~0.01954).
A downward breakout could lead to the 2.618 Fibonacci level (~0.01418).
Support and Resistance:
Support: 0.01500 (0.236 level) is a key support zone.
Resistance: 0.01675 and 0.01779.
Expectations and Scenarios:
An upward breakout requires increasing volume.
A downward breakout could lead to increased selling pressure and a retest of support levels.
Volume and Momentum:
Volume is critical to confirm the direction of the breakout. A breakout with low volume is unlikely to be sustained.
Fibonacci retracement levels (0.236, 0.382, 0.5, 0.618, etc.) are marked.
Price is hovering near the 0.382 level (0.01656), acting as resistance.
Triangle Formation:
A symmetrical triangle formation is present, indicating price compression and the potential for a breakout.
An upward breakout targets the 1.618 Fibonacci level (~0.01954).
A downward breakout could lead to the 2.618 Fibonacci level (~0.01418).
Support and Resistance:
Support: 0.01500 (0.236 level) is a key support zone.
Resistance: 0.01675 and 0.01779.
Expectations and Scenarios:
An upward breakout requires increasing volume.
A downward breakout could lead to increased selling pressure and a retest of support levels.
Volume and Momentum:
Volume is critical to confirm the direction of the breakout. A breakout with low volume is unlikely to be sustained.
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.
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.