Just adding to the idea previously posted:
A black upward trendline shows a strong bullish trend from mid-2022 through early 2025. Recently, there’s been a significant breakdown below this trendline, which signals a substantial change in trend from bullish to bearish. On Friday, we tested and rejected this trendline, which at the same time tested a 65% (golden pocket) retracement of the recent move, indicating a possible resistance area after a strong rebound.
I expect the price not to break this level any further.
The target remains 14k and below.
A black upward trendline shows a strong bullish trend from mid-2022 through early 2025. Recently, there’s been a significant breakdown below this trendline, which signals a substantial change in trend from bullish to bearish. On Friday, we tested and rejected this trendline, which at the same time tested a 65% (golden pocket) retracement of the recent move, indicating a possible resistance area after a strong rebound.
I expect the price not to break this level any further.
The target remains 14k and below.
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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.