Price is trapped in a tight range between two daily supply zones, coiling for a strong move. Here are your two potential trade options:
✅ Bullish Scenario
If price breaks above the upper daily supply zone with strong momentum:
Entry: On breakout & retest above supply zone
Confluence: Channel breakout + MACD shift to bullish + reclaim of 200 EMA
Target: Move toward higher daily supply zone near previous highs
Confirmation: Strong bullish candle close above structure
❌ Bearish Scenario
If price rejects the upper supply and breaks the trendline support:
Entry: Break and retest of ascending trendline + daily demand zone flip
Confluence: MACD bearish crossover + clean rejection from upper supply
Target: Drop toward lower demand zone in the $0.63–0.64 range
Confirmation: Rejection from resistance + break below trendline and demand
✅ Bullish Scenario
If price breaks above the upper daily supply zone with strong momentum:
Entry: On breakout & retest above supply zone
Confluence: Channel breakout + MACD shift to bullish + reclaim of 200 EMA
Target: Move toward higher daily supply zone near previous highs
Confirmation: Strong bullish candle close above structure
❌ Bearish Scenario
If price rejects the upper supply and breaks the trendline support:
Entry: Break and retest of ascending trendline + daily demand zone flip
Confluence: MACD bearish crossover + clean rejection from upper supply
Target: Drop toward lower demand zone in the $0.63–0.64 range
Confirmation: Rejection from resistance + break below trendline and demand
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.