🔹 Scenario:
The price is under pressure, testing the descending trendline.
The key trigger for a bullish breakout is a trendline break and confirmation above the 4H supply zone (purple area).
🛠 Action Plan:
1️⃣ Wait for a breakout above the descending trendline.
2️⃣ Look for confirmation above the supply zone before entering a long position.
3️⃣ Target: A move toward $1.59 - $1.68.
📌 Conclusion:
⚡️ If the trigger plays out, we could see a strong short squeeze. Patience is key—waiting for confirmation before entering! 🚀
The price is under pressure, testing the descending trendline.
The key trigger for a bullish breakout is a trendline break and confirmation above the 4H supply zone (purple area).
🛠 Action Plan:
1️⃣ Wait for a breakout above the descending trendline.
2️⃣ Look for confirmation above the supply zone before entering a long position.
3️⃣ Target: A move toward $1.59 - $1.68.
📌 Conclusion:
⚡️ If the trigger plays out, we could see a strong short squeeze. Patience is key—waiting for confirmation before entering! 🚀
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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.
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.