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Alikze »» HFT | Support at the bottom of the descending channel

🔍 Technical analysis: Support at the bottom of the descending channel

- It is moving in a downward channel in the daily and 12H time frames.

- Currently, there is demand in the area of the bottom of the descending channel and the beginning of the movement.

- Therefore, if this demand continues in the range of the green box, it can continue its growth up to 0.195 first.

- In addition, if it stabilizes at the top of the range, it will succeed so that the supply range and channel ceiling have an upward trend.

💎 Alternative scenario: if it cannot maintain the green box area and the bottom of the channel, this correction can continue up to the range of 0.0977.
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注释

In the 12H time frame, it is in the range of the bottom of the channel. According to the created demand and a correction to Fibo 0.23 and the current structure can first have a growth up to the first supply area, and with its failure, it will continue its growth to the middle of the channel according to the momentum. In addition, if the 0.23 fibo is broken and fixed below, the upward wave will be invalidated and should be re-examined and updated.