As it can be clearly inferred from the chart, the price has formed a beautiful parallel channel and is now located at the upper boundary of it. Massive wick rejections can also be identified, which indicates a weak bullish pressure around the area of resistance. We are now expecting the price to keep dropping and reach the area plotted on the graph.
Feel free to drop your thoughts and opinions in the comment section below, family!
Feel free to drop your thoughts and opinions in the comment section below, family!
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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.