🔍 Technical analysis: Short -running channel
- The one -hour frame is moving after a modification in a short ascending channel.
- In the middle of the canal and in the area of resistance density.
- If it can be located above the area, it can have up to 6.25 channel ceiling and can grow with the middle of the canal to the supply area if the reaction.
💎 Alternative scenario: If it fails to break the resistance range and face the channel failure, it can modify the green box after the money.
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- The one -hour frame is moving after a modification in a short ascending channel.
- In the middle of the canal and in the area of resistance density.
- If it can be located above the area, it can have up to 6.25 channel ceiling and can grow with the middle of the canal to the supply area if the reaction.
💎 Alternative scenario: If it fails to break the resistance range and face the channel failure, it can modify the green box after the money.
»»»«««»»»«««»»»«««
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support.
Sincerely.❤️
»»»«««»»»«««»»»«««
Note
At the moment, it has broken the resistance range with a high buying pressure candle, which has faced selling pressure when it collides with the middle of the channel, which can be the pullback to the broken structure for the target of $6.25. Note
After not being able to stabilize the top of the supply area, it has had a corrective trend up to the green box. Note
After not confirming above the supply area, it has followed a downward path. Currently, it is moving in a downward channel, in the middle of the channel, if it is fixed under the green box, it can continue the downward path and extend to the bottom of the channel and to the $3.12 range. If it is confirmed above the range, it can retest up to the ceiling of the supply area channel. Critical resistance: $4.69. Note
According to the provided movement path, it has touched the target of 3.125 and faced the demand which can retest the supply area at the moment. 
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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.