🔍 Analysis Summary
Current Price: \~\$3,266
Indicators:
EMA 50 (Red): \~\$3,277 – price is slightly below this level
EMA 200 (Blue): \~\$3,180 – acts as a dynamic support
Trend Structure:
Previous Uptrend: Sharp bullish move within a rising wedge (now broken)
Current Pattern: Descending channel or flag-like consolidation after the strong bullish trend
Support Level: \~\$3,175–\$3,180 (highlighted zone with green arrows showing bounce)
Resistance Level (Target 1): \~\$3,277–\$3,300
Target Point: \~\$3,356
📈 Bullish Scenario:
Price bounced off strong support (around EMA 200 + horizontal level).
If price breaks above the descending channel and retests resistance, it could aim for **Target 1 (\~3,300) and possibly reach **Target Point (\~3,356)**.
📉 Bearish Scenario:
Failure to break above descending channel resistance could lead to a retest of the support zone.
If support breaks, the next possible stop could be below the EMA 200, triggering deeper correction.
🧠 Trading Idea
Buy Entry: On confirmed breakout above descending channel.
Target 1: \~3,300
Target 2: \~3,356
Stop Loss: Below \~3,175 support
Trade active
Target 1 completely Keep support Trade closed: target reached
As I analysed the chart now market touched the resistance point and working well hope you taked profits and benefits from my analysis stay in touched for more good setups very soon I will share another analyse
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Related publications
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.