"Critical point to restart the upward movement"
We observe resistance in this candle on the 30-minute, 15-minute, and 5-minute time frames. If we manage to close above it and retest within the range of $61,600 to $63,255, we could have a clear path back to $69,000.
A pullback of at least 3-4% could be possible without raising alarms before continuing the upward movement from this point.
A pullback of at least 3-4% could be possible without raising alarms before continuing the upward movement from this point.
Note
"We hope that the previously mentioned pullback ends and that we continue defending this area. Otherwise, if the bullish movement towards $69,000 is reestablished in the very short term, we will need to reassess it over the coming days."
Get Access to Pinescriptlabs Indicators pinescriptlabs.com/
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.