This technical analysis sounds promising! Here's a breakdown:
Support Line Test: The price reached a level (support line) where previous buying pressure halted the decline. This suggests demand for the asset at that price point.
Retest of Support: The price dipped back towards the support line but didn't break through. This retest can be seen as a confirmation of the support level's validity.
Together, these pattern suggests a potential reversal:
The price might be bouncing off the support, indicating a possible upswing.
Support Line Test: The price reached a level (support line) where previous buying pressure halted the decline. This suggests demand for the asset at that price point.
Retest of Support: The price dipped back towards the support line but didn't break through. This retest can be seen as a confirmation of the support level's validity.
Together, these pattern suggests a potential reversal:
The price might be bouncing off the support, indicating a possible upswing.
Nota
tp 1 tappedNota
although it bounced back price kept following the direction.
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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.