The price has approached our strong zone, where we can look for a buy after a rebound and confirmation. However, there is a possibility that it is just a false rebound, where the price signals a continuation to buy but actually drops into a sell. Therefore, it is important to monitor multiple timeframes and wait for proper market confirmation.
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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.