Price has now tested the 123K resistance zone three times. On the third attempt, we saw a shallow breakout, hinting at absorption rather than rejection - a sign that sellers might be running thin((among them, I used to be lol).
Now, all eyes are on the 123K retest - the potential make-or-break pivot. If this level flips to support, bulls could drive toward the next Fib extension at 129,700. But if the level gives way, we’re likely headed back into the 117K–118.5K base zone.
Key Levels
🔴 Resistance Zone: 122,500 – 124,500
🟢 Target: 129,700 (Fib Ext 1.272)
⛔️ Invalidation: Below 122,000
🔵 Base Support: 117,000 – 118,500
📝 Thesis:
Triple tests tend to weaken supply zones. The shallow breakout suggests accumulation rather than exhaustion. Confirmation comes if buyers defend the 123K handle - failure to hold flips momentum back to the downside.
TL;DR:
Triple resistance test → shallow breakout → retest in play.
123K is the pivot. Hold = 129,700. Fail = back to base.
⚠️Risk Note:
Stay alert for fakeouts around macro events. Volume and close structure will tell the real story.
Now, all eyes are on the 123K retest - the potential make-or-break pivot. If this level flips to support, bulls could drive toward the next Fib extension at 129,700. But if the level gives way, we’re likely headed back into the 117K–118.5K base zone.
Key Levels
🔴 Resistance Zone: 122,500 – 124,500
🟢 Target: 129,700 (Fib Ext 1.272)
⛔️ Invalidation: Below 122,000
🔵 Base Support: 117,000 – 118,500
📝 Thesis:
Triple tests tend to weaken supply zones. The shallow breakout suggests accumulation rather than exhaustion. Confirmation comes if buyers defend the 123K handle - failure to hold flips momentum back to the downside.
TL;DR:
Triple resistance test → shallow breakout → retest in play.
123K is the pivot. Hold = 129,700. Fail = back to base.
⚠️Risk Note:
Stay alert for fakeouts around macro events. Volume and close structure will tell the real story.
The NFX Team ™️💚
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
The NFX Team ™️💚
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.