In early 2020, the price bounced off the line, received a strong impulse and rallied to an annual high, after which a long and relatively even downtrend began.
One of the main trend lines has been resistance since April. However, at the beginning of June, a support line appeared on the chart, which initially acted as strong resistance, as the chart was moving below it. However, in September the price jumped and was able to break through this line. This was its only breakout, after which the price returned to the downtrend.
Since the price drop started from the strong resistance line at 1.310. And since during the fall, before touching support, the price has already managed to break through several lines, I expect that the support line
1.269 will not be able to break the trend.
After moving along the line, I expect the price to bounce, rise to the resistance level of 1.280 and then fall to the support level. Thus, I expect the target - the support line 1.254.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
One of the main trend lines has been resistance since April. However, at the beginning of June, a support line appeared on the chart, which initially acted as strong resistance, as the chart was moving below it. However, in September the price jumped and was able to break through this line. This was its only breakout, after which the price returned to the downtrend.
Since the price drop started from the strong resistance line at 1.310. And since during the fall, before touching support, the price has already managed to break through several lines, I expect that the support line
1.269 will not be able to break the trend.
After moving along the line, I expect the price to bounce, rise to the resistance level of 1.280 and then fall to the support level. Thus, I expect the target - the support line 1.254.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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t.me/LingridChannel
🚀 Daily CRYPTO setups:
bit.ly/3JIGE2j
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
🔥 Daily GOLD and Forex updates with 20,000+ active traders:
t.me/LingridChannel
🚀 Daily CRYPTO setups:
bit.ly/3JIGE2j
t.me/LingridChannel
🚀 Daily CRYPTO setups:
bit.ly/3JIGE2j
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.