Key Observations & Analysis
Structure & Trend
You can see a clear downtrend in June.
Price formed an inverted head and shoulders pattern:
Left Shoulder: Early June low.
Head: Deeper low mid-June.
Right Shoulder: Late June higher low.
This is a bullish reversal pattern.
Trendline Breakout: After the right shoulder formed, price broke the diagonal trendline resistance (marked “trendline breakout”)—signaling bullish momentum.
Breakout & Rally
Strong volume increase confirmed the breakout.
Price trended up rapidly after the breakout, forming higher highs and higher lows.
Recent Price Action
The current price is consolidating in a key supply zone (gray shaded area).
Marked order block: a potential supply zone where smart money may sell.
Price has also made a Market Structure Shift (MSS)—suggesting the uptrend could be losing steam.
HTF POI (Higher Timeframe Point of Interest)
The upper gray box labeled HTF POI between ~0.0167–0.0175.
This is likely a major resistance area.
Price is testing this zone repeatedly.
Liquidity & Target
Trend liquidity has been swept, meaning stops above recent highs have likely been taken.
There is a blue shaded box indicating a potential short scenario:
Entry near the order block.
Target near the prior consolidation support around ~0.008–0.009.
This implies a bias toward a corrective move or retracement.
Volume & RSI
Volume spiked during breakout and has since decreased—often a sign of buyer exhaustion.
RSI around ~58—neutral but no overbought signal yet.
✅ Interpretation Summary
Bullish Arguments:
The inverted head and shoulders broke out cleanly.
Strong trend continuation into higher timeframe resistance.
Bearish Arguments:
Price is consolidating under significant resistance (HTF POI).
Order block + liquidity sweep suggest potential distribution.
Market structure shift indicates sellers are stepping in.
The blue target box shows a potential retracement target near 0.008–0.009.
✅ What This Likely Means
Scenario 1 (Continuation):
If price breaks cleanly above 0.0175 with strong volume, continuation higher is likely.
Scenario 2 (Rejection):
If price keeps rejecting this order block, a short-term pullback toward 0.009 becomes probable.
✅ Tip if You’re Trading This
Watch for a clear reaction in the gray order block area.
Confirmation of rejection could trigger shorts.
A strong close above the HTF POI invalidates the bearish scenario.
Structure & Trend
You can see a clear downtrend in June.
Price formed an inverted head and shoulders pattern:
Left Shoulder: Early June low.
Head: Deeper low mid-June.
Right Shoulder: Late June higher low.
This is a bullish reversal pattern.
Trendline Breakout: After the right shoulder formed, price broke the diagonal trendline resistance (marked “trendline breakout”)—signaling bullish momentum.
Breakout & Rally
Strong volume increase confirmed the breakout.
Price trended up rapidly after the breakout, forming higher highs and higher lows.
Recent Price Action
The current price is consolidating in a key supply zone (gray shaded area).
Marked order block: a potential supply zone where smart money may sell.
Price has also made a Market Structure Shift (MSS)—suggesting the uptrend could be losing steam.
HTF POI (Higher Timeframe Point of Interest)
The upper gray box labeled HTF POI between ~0.0167–0.0175.
This is likely a major resistance area.
Price is testing this zone repeatedly.
Liquidity & Target
Trend liquidity has been swept, meaning stops above recent highs have likely been taken.
There is a blue shaded box indicating a potential short scenario:
Entry near the order block.
Target near the prior consolidation support around ~0.008–0.009.
This implies a bias toward a corrective move or retracement.
Volume & RSI
Volume spiked during breakout and has since decreased—often a sign of buyer exhaustion.
RSI around ~58—neutral but no overbought signal yet.
✅ Interpretation Summary
Bullish Arguments:
The inverted head and shoulders broke out cleanly.
Strong trend continuation into higher timeframe resistance.
Bearish Arguments:
Price is consolidating under significant resistance (HTF POI).
Order block + liquidity sweep suggest potential distribution.
Market structure shift indicates sellers are stepping in.
The blue target box shows a potential retracement target near 0.008–0.009.
✅ What This Likely Means
Scenario 1 (Continuation):
If price breaks cleanly above 0.0175 with strong volume, continuation higher is likely.
Scenario 2 (Rejection):
If price keeps rejecting this order block, a short-term pullback toward 0.009 becomes probable.
✅ Tip if You’re Trading This
Watch for a clear reaction in the gray order block area.
Confirmation of rejection could trigger shorts.
A strong close above the HTF POI invalidates the bearish scenario.
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.