The bullish momentum showed hesitation after reaching a new high of 3057.6, followed by a sharp decline. This indicates that buyers are starting to lose confidence at higher levels.
Summary:
Consider buying on dips only if the price stabilizes above 3022.
If the price breaks below 3022, focus on short opportunities.
Key Levels to Watch:
3060-3065: Bullish target zone
3054-3057: ATH resistance
3048: Short-term resistance
3042: Resistance
3038: Resistance
3030: Bullish/Bearish pivot line
3025: Key intraday support
3022: Final bullish defense zone
3006: Bearish target zone
Short-Term Trading Strategy:
1. For Shorts: Enter a SELL position if the price breaks below 3022. Watch 3018 for initial support; if the decline continues, monitor 3015, 3011, and 3007 as potential targets.
2. For Longs: Enter a BUY position if the price stabilizes above 3025. Watch 3027 for confirmation; if the bullish momentum continues, monitor 3030, 3034, and 3038.
👉 If my insights have been helpful to you, or if you traded based on my ideas, please consider giving a like — it’s a great encouragement for me! Thanks for your support!
Disclaimer: This is my personal opinion and not financial advice. Please manage your risk accordingly.
Summary:
Consider buying on dips only if the price stabilizes above 3022.
If the price breaks below 3022, focus on short opportunities.
Key Levels to Watch:
3060-3065: Bullish target zone
3054-3057: ATH resistance
3048: Short-term resistance
3042: Resistance
3038: Resistance
3030: Bullish/Bearish pivot line
3025: Key intraday support
3022: Final bullish defense zone
3006: Bearish target zone
Short-Term Trading Strategy:
1. For Shorts: Enter a SELL position if the price breaks below 3022. Watch 3018 for initial support; if the decline continues, monitor 3015, 3011, and 3007 as potential targets.
2. For Longs: Enter a BUY position if the price stabilizes above 3025. Watch 3027 for confirmation; if the bullish momentum continues, monitor 3030, 3034, and 3038.
👉 If my insights have been helpful to you, or if you traded based on my ideas, please consider giving a like — it’s a great encouragement for me! Thanks for your support!
Disclaimer: This is my personal opinion and not financial advice. Please manage your risk accordingly.
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.