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Alikze »» LINK| Descending channel

🔍 Technical analysis: Descending channel

- According to the previous post, after not fixing in the green box, the second scenario was realized.

- In the daily time frame, it faced a correction after a movement cycle, which is currently moving in a descending channel.

- Now after the demand at the bottom of the channel and the green box area, it has broken the middle of the descending channel after the second collision.

- Therefore, it can continue the upward movement with pullback to the middle of the channel, up to the roof area of the descending channel.

💎 In addition, if it can break the supply area and stabilize above the 15.6 range, it will have the targets of 1.272 and 1.618 Fibo.

💎 Alternative scenario: Note that to continue the upward trend, it must be above the 12.5 zone, so if it stabilizes below this zone, it can touch the green box again.
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