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Alikze »» COMP | Ascending channel - 1W

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🔍 Technical analysis: Ascending channel - 1W

- It is moving in an upward channel in the weekly time frame.

- According to the correction of the previous wave as 0.38 Fibo, demand is encountered in the area of the bottom of the ascending channel and an ascending candlestick is observed in the area of the bottom of the channel.

- Currently, in the weekly time frame with the buying pressure candle, the dynamic trigger is broken and it can continue its growth with demand in the range of the green box of the next wave at least up to the ceiling of the growth channel.

💎In addition, in case of failure of the first channel, the upward wave can continue to grow up to the specified supply area.

⚠️Note: If the candle closes below the Fibo 38 range, there will be more possibility of correction and the continuation of the bullish scenario will be invalidated and should be checked and updated again.⚠️

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