By consolidating above the resistance zone, this zone has lost its validity.
Once again, the price needs to accumulate liquidity in the support zones for a new bullish phase.
The dynamic support level of the channel also determines the price trend that we need to see the price reaction to this level and the static support level to enter into purchase transactions and get confirmation.
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.