The price, previously supported by ascending trendlines, has recently broken below these lines, signaling a potential reversal in momentum. The Ichimoku cloud (Kumo) highlights critical support and resistance zones, with the price moving outside the cloud, reinforcing the breakdown of the prior uptrend. The Tenkan-sen and Kijun-sen lines confirm this shift through their crossover, aligning with the wave structure and indicating a bearish turn. This setup suggests an opportunity for a short position, as the market may be entering a consolidation or downtrend phase.
If you liked this analysis, hit the BOOST !
If you liked this analysis, hit the BOOST !
Trade closed: target reached
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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.