Strong market recovery to deny breakout and push us back into wedge. It's possible we see a reversal to this downtrend soon.
H4 200EMA (4200) marks the expected test zone and new major resistance, with 4k acting as support.
Another dip below the lower trend (solid purple) could pose a threat in re-triggering bearish momentum. If this occurs I'll post my analysis on the daily.
H4 200EMA (4200) marks the expected test zone and new major resistance, with 4k acting as support.
Another dip below the lower trend (solid purple) could pose a threat in re-triggering bearish momentum. If this occurs I'll post my analysis on the daily.
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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.