1. Overall Market Structure
The market is currently in a strong bullish trend, forming higher highs and higher lows.
A retracement is occurring around the $2900 - $2927 zone, which could be a Liquidity Grab before the next move.
2. Key Support & Resistance Levels
Resistance Zones:
$2927 - $2942 (Key Fibonacci 0.236 - 0.0 level), which has already triggered a reaction from sellers.
Support Zones:
$2870 - $2890 (Fibonacci 0.786) – A critical area where buyers may step in.
$2779 (Support from the previous week) – If a deeper correction occurs, this could act as a liquidity area for long positions.
3. Liquidity & Key RTM Zones
Liquidity was grabbed above $2942, indicating potential sell-side orders.
A retracement towards $2890 - $2902 (important FLIP zone) could determine the next direction.
Smart Money might manipulate price around these levels to trap retail traders before a strong move.
4. Possible Scenarios for Next Week
Bullish Scenario:
If price holds above $2890 - $2902, we could see a push towards $2942 - $2960.
A breakout above $2942 could extend the bullish rally to $3000 and beyond.
Bearish (Deeper Retracement) Scenario:
If $2890 support fails, the price could drop to $2779 - $2760, where buyers might step in.
5. Conclusion & Trading Strategy
📌 If $2890 - $2902 holds as support, expect further upside momentum.
📌 If this support breaks, a deeper retracement to $2779 - $2760 is possible.
📌 Watch for liquidity grabs and confirmation signals before entering a trade.
❗ Recommendation: Monitor price reaction at $2890 before making trading decisions. If buyers defend this level, long positions could be favorable.
The market is currently in a strong bullish trend, forming higher highs and higher lows.
A retracement is occurring around the $2900 - $2927 zone, which could be a Liquidity Grab before the next move.
2. Key Support & Resistance Levels
Resistance Zones:
$2927 - $2942 (Key Fibonacci 0.236 - 0.0 level), which has already triggered a reaction from sellers.
Support Zones:
$2870 - $2890 (Fibonacci 0.786) – A critical area where buyers may step in.
$2779 (Support from the previous week) – If a deeper correction occurs, this could act as a liquidity area for long positions.
3. Liquidity & Key RTM Zones
Liquidity was grabbed above $2942, indicating potential sell-side orders.
A retracement towards $2890 - $2902 (important FLIP zone) could determine the next direction.
Smart Money might manipulate price around these levels to trap retail traders before a strong move.
4. Possible Scenarios for Next Week
Bullish Scenario:
If price holds above $2890 - $2902, we could see a push towards $2942 - $2960.
A breakout above $2942 could extend the bullish rally to $3000 and beyond.
Bearish (Deeper Retracement) Scenario:
If $2890 support fails, the price could drop to $2779 - $2760, where buyers might step in.
5. Conclusion & Trading Strategy
📌 If $2890 - $2902 holds as support, expect further upside momentum.
📌 If this support breaks, a deeper retracement to $2779 - $2760 is possible.
📌 Watch for liquidity grabs and confirmation signals before entering a trade.
❗ Recommendation: Monitor price reaction at $2890 before making trading decisions. If buyers defend this level, long positions could be favorable.
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.
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.