There was a fake break of descending channel the other day, which I'm sure gave quite a scare to the market at that point, but also lured quite some short sellers to enter positions in that region - tough luck, as we saw immediate climb back into our channel.
Currently we are testing upper resistance, looking for a breakthrough and time to long.
We can see bearish divergence forming on RSI and MFI, which says to me that we will likely retrace into a small local correction, before price action continues up.
All 👀 are now on possible break. But weekend is coming up, soooo... Let's wait and see how today plays out!
Currently we are testing upper resistance, looking for a breakthrough and time to long.
We can see bearish divergence forming on RSI and MFI, which says to me that we will likely retrace into a small local correction, before price action continues up.
All 👀 are now on possible break. But weekend is coming up, soooo... Let's wait and see how today plays out!
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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.