In my view, we are still in the accumulation phase. The current price action and reactions at key levels suggest ongoing accumulation.
🔻 Bearish Scenarios:
In the short term, a retest of the lower boundary of the accumulation zone (purple box) is possible if the market weakens.
The worst-case scenario would be a move down to the lower green support zone, which has historically triggered strong bullish reactions. This is a critical demand area.
🔼 Bullish Scenarios:
A confirmed breakout and hold above the white line (within the purple box) would signal strength and a potential move higher.
We would then likely see a retest of the upper boundary of the accumulation zone.
A breakout and consolidation above the yellow line would open the door for a move toward the wider yellow channel, which could act as a final target zone
🚨 High-Risk Zone:
The yellow channel might represent the final phase of the current move.
From there, we could see either a sharp correction
Or, if trend strength and macro conditions allow, a continuation towards a new ATH (purple line).
📌 📌 📌 :
All marked lines and zones represent key support and resistance levels.
Price reaction at these areas will be crucial for decision-making.
As always, risk management and trend confirmation are essential.
🔻 Bearish Scenarios:
In the short term, a retest of the lower boundary of the accumulation zone (purple box) is possible if the market weakens.
The worst-case scenario would be a move down to the lower green support zone, which has historically triggered strong bullish reactions. This is a critical demand area.
🔼 Bullish Scenarios:
A confirmed breakout and hold above the white line (within the purple box) would signal strength and a potential move higher.
We would then likely see a retest of the upper boundary of the accumulation zone.
A breakout and consolidation above the yellow line would open the door for a move toward the wider yellow channel, which could act as a final target zone
🚨 High-Risk Zone:
The yellow channel might represent the final phase of the current move.
From there, we could see either a sharp correction
Or, if trend strength and macro conditions allow, a continuation towards a new ATH (purple line).
📌 📌 📌 :
All marked lines and zones represent key support and resistance levels.
Price reaction at these areas will be crucial for decision-making.
As always, risk management and trend confirmation are essential.
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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.
Related publications
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.