After analyzing the 2-hour chart, we can see that price has been bouncing around like a pinball between 3374 and 3264 — rejected twice at the top, supported twice at the bottom.
Currently, price is chilling at 3309, smack in the middle of the range, probably wondering what to do with its life.
Now, 3345 is standing tall as a strong resistance. If price finds the courage to break above 3345, it might speed its way up to 3419 like it’s late for a meeting.
But if it gets shy and turns back down, don’t be surprised to see it sliding toward 3148 instead — much easier, much faster, and with way less drama.
Currently, price is chilling at 3309, smack in the middle of the range, probably wondering what to do with its life.
Now, 3345 is standing tall as a strong resistance. If price finds the courage to break above 3345, it might speed its way up to 3419 like it’s late for a meeting.
But if it gets shy and turns back down, don’t be surprised to see it sliding toward 3148 instead — much easier, much faster, and with way less drama.
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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.