Technical Analysis Summary ๐
1. Trend ๐
Global: Bullish ๐
Local: Corrective within a descending channel or flag ๐โก๏ธ๐
2. Key Support Levels:
3,000 SATs: Strong psychological and technical support ๐ช
0.5 Fibo (2,900 SATs): A typical correction point, aligning with Fibonacci retracement ๐
3. Key Resistance Levels:
3,144 SATs: Intermediate resistance ๐
3,200 SATs: Strong resistance, with liquidity concentration forming a challenging breakout zone ๐ง
4. Short-Term Expectation:
A false breakout near the 3,144โ3,200 resistance zone ๐ผ
Correction targets around 3,000 SATs or 0.5 Fibo (2,900 SATs) before a breakout gathers strength ๐
5. Indicators:
EMA50 on 1H Time Frame: Likely acting as dynamic resistance or support during the correction phase ๐โก๏ธ๐
Strategy and Outlook ๐ฏ
Immediate Action:
Watch for a rejection near the 3,144โ3,200 zone ๐, as liquidity in this area may block an immediate breakout โ.
Buy Zone:
Consider entries near the support levels (3,000 or 2,900 SATs) after confirmation of correction completion ๐.
Breakout Confirmation:
A solid breakout above 3,200 SATs with volume could signal the resumption of the bullish trend and potentially lead to new highs ๐๐.
This correction likely presents a great accumulation opportunity ๐ค before the continuation of the larger trend ๐. Would you like further clarification on EMA strategies, Fibonacci setups, or help with charting this analysis?