As we expected, the target price also hit $21,400, which means that the price has dropped by more than 13% since i analyzed it ! Now as you can see that the price has returned to the Institutional Support (IS) level, we have to see what will be the reaction to this level, price consolidation in the 4-hour time frame above $21600 can cause an upward corrective movement to 23250$ ! Because, as you can see, a new liquidity void has been created with the drop that took place, and according to the condition we set, we can expect this void to be filled, otherwise the $20,700 and $20,000 targets will not be far from reach!
Follow us for more analysis & Feel free to ask any questions you have, we are here to help.
⚠️ This Analysis will be updated ... 👤 Arman Shaban : ArmanShabanTrading 📅 08.18.2022 ⚠️(DYOR)
❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
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.