• META is still in a very strong bear trend, doing lower highs/lows in the short and mid-term;
• So far, there’s not a single bullish sign of structure that could help META. Although there’s no perspective of a reversal, we must keep some key points in mind;
• First, is the $96.37, the black seen in the 1H and D charts above. If, by any means, META reacts and closes above this point, it might indicate some exhaustion;
• META could bounce to its 21 ema again, and this wouldn’t harm the bear trend at all, but this movement would have a high amplitude, as the 21 ema is very far from the price - so be careful;
• Either way, the 21 ema in the 1h chart is going down as well, which might reinforce the resistance area around $96 in a couple of days;
• As long as META maintains the pattern of lower highs/lows, below the 21 ema, below the previous resistances, the bear trend will just persist;
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• So far, there’s not a single bullish sign of structure that could help META. Although there’s no perspective of a reversal, we must keep some key points in mind;
• First, is the $96.37, the black seen in the 1H and D charts above. If, by any means, META reacts and closes above this point, it might indicate some exhaustion;
• META could bounce to its 21 ema again, and this wouldn’t harm the bear trend at all, but this movement would have a high amplitude, as the 21 ema is very far from the price - so be careful;
• Either way, the 21 ema in the 1h chart is going down as well, which might reinforce the resistance area around $96 in a couple of days;
• As long as META maintains the pattern of lower highs/lows, below the 21 ema, below the previous resistances, the bear trend will just persist;
Remember to follow me to keep in touch with my analyses!
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