Price is currently trading along an ascending trendline, making higher lows in the process. This suggests short-term bullish momentum. However, the overall structure resembles a consolidation or a potential “rising wedge” setup.
The market is hovering just above the trendline, and sellers seem to be testing buyers’ resolve at this level.
The candlesticks near the trendline show some indecision (small-bodied candles or wicks on both ends), hinting that bullish momentum could weaken.
If the price breaks convincingly below the trendline, it would signal a shift from short-term bullishness to a possible bearish phase.
The market is hovering just above the trendline, and sellers seem to be testing buyers’ resolve at this level.
The candlesticks near the trendline show some indecision (small-bodied candles or wicks on both ends), hinting that bullish momentum could weaken.
If the price breaks convincingly below the trendline, it would signal a shift from short-term bullishness to a possible bearish phase.
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iSmashProfit
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.