1) The price channel (white) reveals that we’re only halfway to the next major bounce on the daily chart. With boycotts gaining traction and sales projections looking bleak, the stage is set for more downward pressure.
2) Looking back at the last significant downward swing ( purple ) within this channel, history could repeat itself with a drop of similar magnitude. The pattern is hard to ignore.
3) A critical support zone ( green ) lies beneath an unresolved price imbalance, still waiting to be tested. It’s like a magnet pulling the price lower.
4) When you weave these factors together—channel dynamics, past swings, and untouched support—they converge ominously around the $120 mark. Coincidence? I think not...
Let me know what you guys think.
2) Looking back at the last significant downward swing ( purple ) within this channel, history could repeat itself with a drop of similar magnitude. The pattern is hard to ignore.
3) A critical support zone ( green ) lies beneath an unresolved price imbalance, still waiting to be tested. It’s like a magnet pulling the price lower.
4) When you weave these factors together—channel dynamics, past swings, and untouched support—they converge ominously around the $120 mark. Coincidence? I think not...
Let me know what you guys think.
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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.
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.