I'm looking at this move to happen in order to push higher. Why?
1. The price failed to break the previous high.
2. Previous low broke below the red 50% level and yellow (30%)
3. A red candle closed below the green line and a bullish candle started below which could signal a bearish move down.
If the price closes above the trendline, I know the price may likely push to the resistance. If it closes below the trendline and green zone, the short term bearish move is confirmed.
The best and safest confirmation is a break and retest of the descending trendline+ the resistance zone at
27K
1. The price failed to break the previous high.
2. Previous low broke below the red 50% level and yellow (30%)
3. A red candle closed below the green line and a bullish candle started below which could signal a bearish move down.
If the price closes above the trendline, I know the price may likely push to the resistance. If it closes below the trendline and green zone, the short term bearish move is confirmed.
The best and safest confirmation is a break and retest of the descending trendline+ the resistance zone at
27K
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