1. Rejection at Key Resistance
Price moved higher but faced rejection around the recent high near 79,500. This level continues to act as a strong resistance zone.
2. Short-Term Weakness Appearing
A bearish candle has crossed below the 5MA, suggesting a pause in momentum. This signals a short-term cooldown rather than a confirmed reversal.
3. Bullish Structure Still Intact
Despite the pullback, the overall structure remains bullish with 5 > 20 > 60. This keeps the broader uptrend bias intact.
4. Next Potential Move
If price can reclaim the 5MA with a bullish candle, it may attempt another move toward 79,500. A breakout above that level could lead to further upside.
5. Still a Sensitive Phase
However, the structure is still relatively fragile. A continued move below the 5MA could weaken momentum further and delay the next bullish attempt.
6. What I’m Watching
* Reclaim of the 5MA
* Reaction at 79,500
* Strength of follow-through after any bounce
Price moved higher but faced rejection around the recent high near 79,500. This level continues to act as a strong resistance zone.
2. Short-Term Weakness Appearing
A bearish candle has crossed below the 5MA, suggesting a pause in momentum. This signals a short-term cooldown rather than a confirmed reversal.
3. Bullish Structure Still Intact
Despite the pullback, the overall structure remains bullish with 5 > 20 > 60. This keeps the broader uptrend bias intact.
4. Next Potential Move
If price can reclaim the 5MA with a bullish candle, it may attempt another move toward 79,500. A breakout above that level could lead to further upside.
5. Still a Sensitive Phase
However, the structure is still relatively fragile. A continued move below the 5MA could weaken momentum further and delay the next bullish attempt.
6. What I’m Watching
* Reclaim of the 5MA
* Reaction at 79,500
* Strength of follow-through after any bounce
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Похожие публикации
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.