After a breakout, we usually expect a re-test, right?
As it can be noticed from the graph, the price has successfully broken out of the ascending channel plotted on the graph. Moreover, at the moment, the price has formed a nice bottom at the area of support shown on the chart. The recent spike below the local support has been able to grab liquidity and charge up for bullish moves.
We are pretty sure that the price is gonna keep rising till the area of resistance that lines up with 0.618 Fibonacci retracement level as shown on the graphic.
As it can be noticed from the graph, the price has successfully broken out of the ascending channel plotted on the graph. Moreover, at the moment, the price has formed a nice bottom at the area of support shown on the chart. The recent spike below the local support has been able to grab liquidity and charge up for bullish moves.
We are pretty sure that the price is gonna keep rising till the area of resistance that lines up with 0.618 Fibonacci retracement level as shown on the graphic.
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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.