🧠 **Technical Summary:**
* **Pattern:** Falling wedge (bullish)
* **Support Zone:** \$3,287 area (highlighted in green)
* **Resistance Zones:** Two supply zones around \$3,340–\$3,360 and \$3,370–\$3,380 (marked in red)
* **Current Price:** \~\$3,310
* **Projection:** Bounce from the lower wedge trendline or green support → consolidation → breakout to the upside
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### 🔍 **Price Action Outlook:**
* 📉 **Short-Term Bias:** Bearish until price tests the wedge bottom or hits demand near \$3,287
* 📈 **Medium-Term Bias:** Bullish if:
* Price forms a double bottom or bullish structure near \$3,287
* Breaks out of wedge top with momentum
* 🔄 **Invalidation:** Clean break below \$3,287 with no strong rejection would void the bullish wedge idea
---
### 📌 Trading Plan (based on chart):
* **Watch for bullish reaction near \$3,287–\$3,300**
* **Confirmation Entry:** After breakout and retest of wedge + break of supply (\~\$3,360)
* **Targets:** \$3,400+ range
* **Stop-loss:** Below \$3,280 swing low (conservative)
* **Pattern:** Falling wedge (bullish)
* **Support Zone:** \$3,287 area (highlighted in green)
* **Resistance Zones:** Two supply zones around \$3,340–\$3,360 and \$3,370–\$3,380 (marked in red)
* **Current Price:** \~\$3,310
* **Projection:** Bounce from the lower wedge trendline or green support → consolidation → breakout to the upside
---
### 🔍 **Price Action Outlook:**
* 📉 **Short-Term Bias:** Bearish until price tests the wedge bottom or hits demand near \$3,287
* 📈 **Medium-Term Bias:** Bullish if:
* Price forms a double bottom or bullish structure near \$3,287
* Breaks out of wedge top with momentum
* 🔄 **Invalidation:** Clean break below \$3,287 with no strong rejection would void the bullish wedge idea
---
### 📌 Trading Plan (based on chart):
* **Watch for bullish reaction near \$3,287–\$3,300**
* **Confirmation Entry:** After breakout and retest of wedge + break of supply (\~\$3,360)
* **Targets:** \$3,400+ range
* **Stop-loss:** Below \$3,280 swing low (conservative)
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.