After the price broke through the 0.754 support line during the rise in mid-December, it moved along the line for several weeks trying to break through. However, in the end, it grew from it, rolled back and fixed on the line. After that, it received a new impetus for growth and began to move towards the resistance line.
What you need to know about these two lines. The first is that the support line is very strong, it was formed in 2019 and the price has a lot of touches with this line. The second is that the resistance line is even stronger. She appeared in 2008! And globally, we can say that it is this line that supports the global falling price trend.
Therefore, despite the fact that at the beginning of January the price broke the line to the point 0.769 and has been moving above it for the last couple of days, I expect a fall. This breakout will be false, the price will not have enough strength to rise above the resistance line and it will fall. I expect the price to come to our target - the 0.758 support line.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
What you need to know about these two lines. The first is that the support line is very strong, it was formed in 2019 and the price has a lot of touches with this line. The second is that the resistance line is even stronger. She appeared in 2008! And globally, we can say that it is this line that supports the global falling price trend.
Therefore, despite the fact that at the beginning of January the price broke the line to the point 0.769 and has been moving above it for the last couple of days, I expect a fall. This breakout will be false, the price will not have enough strength to rise above the resistance line and it will fall. I expect the price to come to our target - the 0.758 support line.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.
💰FREE FOREX signals in Telegram: bit.ly/3F4mrMi
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
🚀FREE CRYPTO signals in Telegram: t.me/cryptolingrid
🌎WebSite: lingrid.org
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.