Hello dear friends, Selena here!
The price has recently tested the resistance area and has formed a double top pattern after two unsuccessful attempts to break through. The market has not yet reached new highs. Looking at the daily timeframe, we can observe a bullish trend. However, it is worth noting that the market is struggling to reach higher levels, indicating a potential pullback from the resistance zone. In general, we are witnessing a slowdown in market activity as it encounters strong resistance or supply levels on a weekly basis.
Now, I'm curious to hear your thoughts on today's market!
The price has recently tested the resistance area and has formed a double top pattern after two unsuccessful attempts to break through. The market has not yet reached new highs. Looking at the daily timeframe, we can observe a bullish trend. However, it is worth noting that the market is struggling to reach higher levels, indicating a potential pullback from the resistance zone. In general, we are witnessing a slowdown in market activity as it encounters strong resistance or supply levels on a weekly basis.
Now, I'm curious to hear your thoughts on today's market!
Note
good luck everyone <3
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Related publications
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.