Price held in much better than expected as we managed to close above 3k on a few H4 candles. Unfortunately this could just be another neckline top.
Current consolidation looks to test this area with 200EMA acting as a safety gap. A close (likely H4) below this line could signify further correction.
Note that yesterday's D1 close, as well as today's open, were just under 3k, a possible indication of a less successful breakout attempt.
If we maintain and flip 3k there's a chance we could push to 3200-3250.
Current consolidation looks to test this area with 200EMA acting as a safety gap. A close (likely H4) below this line could signify further correction.
Note that yesterday's D1 close, as well as today's open, were just under 3k, a possible indication of a less successful breakout attempt.
If we maintain and flip 3k there's a chance we could push to 3200-3250.
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Related publications
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.