Demand Zone (Green Area):
A clearly marked demand zone lies below the current price level. This zone could potentially act as a strong support area where buyers are likely to step in.
Price Movement Projection:
The drawn path suggests that the price may drop into the demand zone and then reverse sharply upward toward the marked resistance level at $2,724.91.
Buy Opportunity:
Look for long positions around the demand zone if there are signs of reversal (e.g., bullish candlestick patterns or other confirmation signals).
Target:
Aim for the resistance at $2,724.91 as the first target.
Stop Loss:
Place a stop loss below the demand zone to manage risk in case the price breaks lower.
A clearly marked demand zone lies below the current price level. This zone could potentially act as a strong support area where buyers are likely to step in.
Price Movement Projection:
The drawn path suggests that the price may drop into the demand zone and then reverse sharply upward toward the marked resistance level at $2,724.91.
Buy Opportunity:
Look for long positions around the demand zone if there are signs of reversal (e.g., bullish candlestick patterns or other confirmation signals).
Target:
Aim for the resistance at $2,724.91 as the first target.
Stop Loss:
Place a stop loss below the demand zone to manage risk in case the price breaks lower.
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.