🔼 Bullish Case:
• If price breaks and holds above the triangle, target zones are:
• 3,346 – minor resistance.
• 3,423 – swing high target.
• 3,427+ – potential continuation zone.
• RSI is currently mid-level (~40-50), which gives room to move up, if momentum builds.
🔽 Bearish Case:
• If price rejects from the upper trendline and breaks below 3,285:
• 3,243 will be first key support.
• 3,167 next strong demand zone.
• If 3,167 breaks, free fall to 3,051 and possibly sub-3,000 can occur.
• RSI is still under the 50 level = bearish bias until crossover confirms bullish strength.
⚠ Important Note:
• You may experience false breakouts at this tight range. Wait for candle close outside the wedge and volume confirmation.
• If price breaks and holds above the triangle, target zones are:
• 3,346 – minor resistance.
• 3,423 – swing high target.
• 3,427+ – potential continuation zone.
• RSI is currently mid-level (~40-50), which gives room to move up, if momentum builds.
🔽 Bearish Case:
• If price rejects from the upper trendline and breaks below 3,285:
• 3,243 will be first key support.
• 3,167 next strong demand zone.
• If 3,167 breaks, free fall to 3,051 and possibly sub-3,000 can occur.
• RSI is still under the 50 level = bearish bias until crossover confirms bullish strength.
⚠ Important Note:
• You may experience false breakouts at this tight range. Wait for candle close outside the wedge and volume confirmation.
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.