Ascending channel (purple dotted lines)
Strong support zone (green/purple box) around $93,000–$93,400
Key resistance at $94,470 (blue horizontal line)
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🔼 Long Scenario
Entry criteria
1. Price holds and re-tests the channel floor (~$93,200–$93,400)
2. Break and retest of the minor resistance zone at ~$93,700–$93,800
Targets
First: channel midpoint near $94,200
Final: channel top/major resistance at $94,470
Stop-loss: below the channel floor (e.g. $93,000)
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🔽 Short Scenario
Entry criteria
1. Clear break of the channel floor (closing below ~$93,000 on the 15m)
2. Failure to reclaim that level promptly
Targets
First: next support around $92,700
Second: deeper support near $92,400
Stop-loss: just above the broken channel floor (e.g. $93,200)
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🎲 Probabilities
Long continuation: ~60%
Bearish breakdown: ~40%
> Always use proper risk management (position sizing + stop-loss), and if a key level is decisively broken, switch to the opposite scenario.
Strong support zone (green/purple box) around $93,000–$93,400
Key resistance at $94,470 (blue horizontal line)
---
🔼 Long Scenario
Entry criteria
1. Price holds and re-tests the channel floor (~$93,200–$93,400)
2. Break and retest of the minor resistance zone at ~$93,700–$93,800
Targets
First: channel midpoint near $94,200
Final: channel top/major resistance at $94,470
Stop-loss: below the channel floor (e.g. $93,000)
---
🔽 Short Scenario
Entry criteria
1. Clear break of the channel floor (closing below ~$93,000 on the 15m)
2. Failure to reclaim that level promptly
Targets
First: next support around $92,700
Second: deeper support near $92,400
Stop-loss: just above the broken channel floor (e.g. $93,200)
---
🎲 Probabilities
Long continuation: ~60%
Bearish breakdown: ~40%
> Always use proper risk management (position sizing + stop-loss), and if a key level is decisively broken, switch to the opposite scenario.
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.
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.