The half-year resistance keeps suppressing the price for 31 days.
The half-year resistance diverted to $46069.75
The triangle narrows as indicated in the chart.
The price is pulled back to $38369 within the triangle yesterday.
The range keeps narrowing down until it breaks out within 1-8 days.
Range to monitor: upper at $42734.05, center at $40433.92, lower at $37460.23.
If the price remains above the center, it is likely to go up, and vice versa. Now it’s heading downward.
Push-and-pull against the center is dynamic before choosing a direction.
There will be more frequent oscillation around the center in the next few days until the market chose a direction.
Pay attention to our analysis on Fed’s interest rate move.
Safe trade, pals. Hope our analysis helps. We will have daily updates on trading.
Comment down below, and welcome your ideas.
The half-year resistance diverted to $46069.75
The triangle narrows as indicated in the chart.
The price is pulled back to $38369 within the triangle yesterday.
The range keeps narrowing down until it breaks out within 1-8 days.
Range to monitor: upper at $42734.05, center at $40433.92, lower at $37460.23.
If the price remains above the center, it is likely to go up, and vice versa. Now it’s heading downward.
Push-and-pull against the center is dynamic before choosing a direction.
There will be more frequent oscillation around the center in the next few days until the market chose a direction.
Pay attention to our analysis on Fed’s interest rate move.
Safe trade, pals. Hope our analysis helps. We will have daily updates on trading.
Comment down below, and welcome your ideas.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.