🔍 Analysis:
The price action shows a clear change of character (CHOCH) followed by a break of structure (BOS), indicating weakening bearish momentum.
The downtrend was consistently rejecting off a descending trendline, but now price is approaching a breakout zone, where multiple liquidity levels and seller stop clusters align.
Entry is suggested above the descending trendline breakout, where liquidity sweep + RSI bullish divergence (marked as "Bull") confluence supports the idea of a reversal.
A schematic on the right further illustrates a likely path: sweep of sell-side liquidity, accumulation, and a push toward buy-side liquidity.
✅ Ideal Entry:
Entry above the marked resistance zone confirms shift in market structure. If price flips that zone into support, it may trigger bullish continuation.
The price action shows a clear change of character (CHOCH) followed by a break of structure (BOS), indicating weakening bearish momentum.
The downtrend was consistently rejecting off a descending trendline, but now price is approaching a breakout zone, where multiple liquidity levels and seller stop clusters align.
Entry is suggested above the descending trendline breakout, where liquidity sweep + RSI bullish divergence (marked as "Bull") confluence supports the idea of a reversal.
A schematic on the right further illustrates a likely path: sweep of sell-side liquidity, accumulation, and a push toward buy-side liquidity.
✅ Ideal Entry:
Entry above the marked resistance zone confirms shift in market structure. If price flips that zone into support, it may trigger bullish continuation.
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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.