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As we simplify this price development, we see a near perfect down channel leading to the 0.618 level. We are potentially showing a bullish divergence on the 1H chart with the MACD. The 15 minute chart is resembling a bear flag so it is possible for more downward movement into this marked zone before the move up. $9,888 is the current price level that needs to be held. $9,757 is the final entry area for a move up. If this level is broken, the previous low of $9,589 will need to provide the support.
As we simplify this price development, we see a near perfect down channel leading to the 0.618 level. We are potentially showing a bullish divergence on the 1H chart with the MACD. The 15 minute chart is resembling a bear flag so it is possible for more downward movement into this marked zone before the move up. $9,888 is the current price level that needs to be held. $9,757 is the final entry area for a move up. If this level is broken, the previous low of $9,589 will need to provide the support.
Note
Note
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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.