The price hits strong resistance from sellers in the 2087-2135 zone. The price continues its upward movement if buyers absorb strong supply.
If the price drops below $1931 and the candle covers this level with its body, this will mean a market reversal in the bearish cycle on the 4-hour time frame.
If the price drops below $1931 and the candle covers this level with its body, this will mean a market reversal in the bearish cycle on the 4-hour time frame.
Note
As you can see on the weekly chart, the price is rebounding into the strong supply zone beginning in August 2020.
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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.