🔍 1. Key Support and Resistance Levels (Horizontal Lines):
🟢 Resistances (Green Lines):
114,295.54 — strong resistance resulting from previous highs.
112,767.65
111,009.00
110,685.35 — current key level that price may try to retest after a potential breakout.
đź”´ Supports (Red Lines):
108,496.55 — current level being tested, also coinciding with local resistance from the past.
107,687.57
105,888.74
102,909.85
100,848.07
98,208.22 — strong long-term support; in the past, this level was reacted with a strong bounce.
🔶 2. Downtrend channel marked with orange lines:
The upper downtrend line acted as resistance.
The lower uptrend line acted as support.
The price recently broke above the upper line, but is now testing it again - this could be a retrospective retest.
➡️ If the close of the H4 candle is above this line - a possible confirmation of the breakout.
đź“Š 3. Stochastic RSI indicator (at the bottom of the chart):
Currently in the uptrend phase after a bounce from the oversold level (<20).
The %K line (blue) is crossed upwards by the %D line (orange) - a bullish signal.
Still below the overbought zone, which suggests that the potential uptrend still has room to develop.
🧠4. Market structure and price action:
Price broke above the 108.496 level, but is currently struggling to stay above this zone.
A retest of the broken triangle could be a healthy move, provided that support is maintained in the 108k–107.6k area.
A break below and a close below 107.6k could mean a false breakout and a possible decline towards 105.8k or even 102.9k.
🧠5. Possible scenarios:
âś… Bullish scenario:
Maintaining the 108.496 level and closing the candle above the upper orange line → continued growth.
The nearest targets are:
110.685 (first resistance),
111.009 and 112.767 next.
❌ Bearish scenario:
The price will not stay above 108k and will fall below 107.687.
Possible return to the previous consolidation range with the target:
105.888,
and then 102.909 or 100.848.
🧮 Summary:
Currently, the decisive moment is underway: a test of support after breaking out of the convergent triangle.
The Stoch RSI indicator gives a bullish signal, but the price must confirm the movement by behaving above 108k.
Retest and bounce - this is a bullish scenario.
A breakdown and return under the trend line - means that the breakout was false.
🟢 Resistances (Green Lines):
114,295.54 — strong resistance resulting from previous highs.
112,767.65
111,009.00
110,685.35 — current key level that price may try to retest after a potential breakout.
đź”´ Supports (Red Lines):
108,496.55 — current level being tested, also coinciding with local resistance from the past.
107,687.57
105,888.74
102,909.85
100,848.07
98,208.22 — strong long-term support; in the past, this level was reacted with a strong bounce.
🔶 2. Downtrend channel marked with orange lines:
The upper downtrend line acted as resistance.
The lower uptrend line acted as support.
The price recently broke above the upper line, but is now testing it again - this could be a retrospective retest.
➡️ If the close of the H4 candle is above this line - a possible confirmation of the breakout.
đź“Š 3. Stochastic RSI indicator (at the bottom of the chart):
Currently in the uptrend phase after a bounce from the oversold level (<20).
The %K line (blue) is crossed upwards by the %D line (orange) - a bullish signal.
Still below the overbought zone, which suggests that the potential uptrend still has room to develop.
🧠4. Market structure and price action:
Price broke above the 108.496 level, but is currently struggling to stay above this zone.
A retest of the broken triangle could be a healthy move, provided that support is maintained in the 108k–107.6k area.
A break below and a close below 107.6k could mean a false breakout and a possible decline towards 105.8k or even 102.9k.
🧠5. Possible scenarios:
âś… Bullish scenario:
Maintaining the 108.496 level and closing the candle above the upper orange line → continued growth.
The nearest targets are:
110.685 (first resistance),
111.009 and 112.767 next.
❌ Bearish scenario:
The price will not stay above 108k and will fall below 107.687.
Possible return to the previous consolidation range with the target:
105.888,
and then 102.909 or 100.848.
🧮 Summary:
Currently, the decisive moment is underway: a test of support after breaking out of the convergent triangle.
The Stoch RSI indicator gives a bullish signal, but the price must confirm the movement by behaving above 108k.
Retest and bounce - this is a bullish scenario.
A breakdown and return under the trend line - means that the breakout was false.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.