Ranging:
Support: $1.9 to $2
Pivot: $2.45 to $2.5
Resistance: $3
Price is at PoC of Volume Profile
........
Bulls aiming for Breakout and Retest above $3 to lead towards Target Price $5
Bears aiming to Breakdown and Retest Failure of $2 support Band. Bears logical target are the Weekly MA50 at $1.20 and MA200 at $0.75
.......
Neutral stance. Expect further range bound Price Action between the Support-Pivot-Resistance Zones.
Operating with Tight Stop Loss at both extremes of the range seems logical.
Or maybe deploy counter hedges as well for studden upside or downside protection.
Support: $1.9 to $2
Pivot: $2.45 to $2.5
Resistance: $3
Price is at PoC of Volume Profile
........
Bulls aiming for Breakout and Retest above $3 to lead towards Target Price $5
Bears aiming to Breakdown and Retest Failure of $2 support Band. Bears logical target are the Weekly MA50 at $1.20 and MA200 at $0.75
.......
Neutral stance. Expect further range bound Price Action between the Support-Pivot-Resistance Zones.
Operating with Tight Stop Loss at both extremes of the range seems logical.
Or maybe deploy counter hedges as well for studden upside or downside protection.
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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.