Simple Analysis:
Price is currently at a resistance zone (~$3,335).
Two possible outcomes are drawn:
Bullish scenario: Break above current resistance → move toward the next resistance (~$3,500+).
Bearish scenario: Rejection from current resistance → fall back to the support zone (~$3,240).
EMAs:
50 EMA (red) is above 200 EMA (blue) = bullish bias, but price must break resistance to continue upward.
Summary:
Watch for a breakout above ~$3,335 for bullish continuation, or a rejection for a potential drop to support near ~$3,240.
Price is currently at a resistance zone (~$3,335).
Two possible outcomes are drawn:
Bullish scenario: Break above current resistance → move toward the next resistance (~$3,500+).
Bearish scenario: Rejection from current resistance → fall back to the support zone (~$3,240).
EMAs:
50 EMA (red) is above 200 EMA (blue) = bullish bias, but price must break resistance to continue upward.
Summary:
Watch for a breakout above ~$3,335 for bullish continuation, or a rejection for a potential drop to support near ~$3,240.
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t.me/Brook0953
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.