We have an interesting situation based on the 1H timeframe. The price is at the local downtrend line and SMA100, and if it bounces, it will be a signal telling us about the further downward movement. Also, the breakout below SMA200 will confirm this downward movement. After that, we should be ready to see the falling to the nearest support zone at 8000.00 level.
The alternative variant is - if the price breaks the downtrend line, it will confirm the further upward movement with the target at 9000.00 resistance.
Which direction will the market pick for further movement? We will see very soon. Now we should watch for the price action at SMA200, the downtrend line and wait for breakouts.
The alternative variant is - if the price breaks the downtrend line, it will confirm the further upward movement with the target at 9000.00 resistance.
Which direction will the market pick for further movement? We will see very soon. Now we should watch for the price action at SMA200, the downtrend line and wait for breakouts.
💰COPY MY TRADES FOR FREE! Join 👉 bit.ly/41DKDBD
📣 Get Welcome Bonuses for 1st Trade 👉 bit.ly/bonus_bybit
💎 Share My BEST Trades here 👉 bit.ly/wubits
📣 Get Welcome Bonuses for 1st Trade 👉 bit.ly/bonus_bybit
💎 Share My BEST Trades here 👉 bit.ly/wubits