Updated

WOOUSD 🕯️ Touching Support Area from Rising Channel Pattern

We've got 2 things that could happen:

It either breaks downward the rising channel it has been trading for a very long time and this means bears would take control so in that case:
Bearish target would be: 0.15 - 0.17 area
It resumes the uptrend and bounces off this support area as it has been doing for the past months and since NOV '22 actually. So it's been a very long and consistent pattern that has been playing out. I'd be cautious to go against it until a very good confirmation is in place.

Bullish Target: 0.26 - 0.30 area

Happy trading and I'll keep updating as I see points of interest.
Regards,

🕯️ Kina 🕯️

Note

Confirm current support holds !

Trade closed: target reached

Bearish target complete: 0.15 - 0.17 area
Success !

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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.