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This post for careful traders, because there is a mid zone and this is the last sign for Uptrend continuation and further growing. And you can consider long position on a breakout of mid zone resistance. However my personal tip is better to buy under mid zone, but with diversification on the levels. That way you will still have a chance to build the right position either price take a correction or continues growing.
Reasons:
If we redraw trendlines by wicks we get a Falling Wedge with a breakout and fixing above a resistance trendline. For such pattern to fully work out the price should go further to upward. This is in our advantage.
What does the mid zone contain and why it's so important to break this resistance?
-Firstly we face 61.8% Fib resistance level (price is fighting the one currently).
-Mid Zone is zone of interest, and can bring a lot of bullish momentum after this zone is past.
-This zone is one more that contains high volumes node and can serve as a good support after breakout.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
This post for careful traders, because there is a mid zone and this is the last sign for Uptrend continuation and further growing. And you can consider long position on a breakout of mid zone resistance. However my personal tip is better to buy under mid zone, but with diversification on the levels. That way you will still have a chance to build the right position either price take a correction or continues growing.
Reasons:
If we redraw trendlines by wicks we get a Falling Wedge with a breakout and fixing above a resistance trendline. For such pattern to fully work out the price should go further to upward. This is in our advantage.
What does the mid zone contain and why it's so important to break this resistance?
-Firstly we face 61.8% Fib resistance level (price is fighting the one currently).
-Mid Zone is zone of interest, and can bring a lot of bullish momentum after this zone is past.
-This zone is one more that contains high volumes node and can serve as a good support after breakout.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.