after the 2026 run, price consolidated for 4 months. within the last month the consolidation tested support and failed to move lower and breaking out of its downtrend. An added confluence to this idea is that price retraced ~65% of its move upward before buyers overpowered sellers. giving the medium term support at roughly 695. price then broke out its downtrend by breaching resistance and holding above. Another confirmation is the flip of hte supportt into resistance showed via the red line. additionally price has broken towards the upside removing short term resistance and approaching all time highs of 1k. if price breaks above 1.02k it is likely to hit psychological levels of 1030 /1050 /1070/ 1200+.
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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.