We’ve been in a clear bearish trend, with multiple (BOS) to the downside. However, a recent liquidity sweep of the previous low, followed by a (CHoCH) to the upside, suggests a potential bullish reversal is in play.
Before the CHoCH occurred, price swept a key liquidity zone below the most recent swing low, inducing sellers and triggering stop-losses.
There are two key supply zones overhead:
$1,425 Recently mitigated during a retracement.
$1,600 Still unmitigated could act as resistance.
TP is above all of them but possible with momentum.
Before the CHoCH occurred, price swept a key liquidity zone below the most recent swing low, inducing sellers and triggering stop-losses.
There are two key supply zones overhead:
$1,425 Recently mitigated during a retracement.
$1,600 Still unmitigated could act as resistance.
TP is above all of them but possible with momentum.
Nota
Price has reacted off the lower demand zone and is climbing back toward a previous supply zone around $1600-$1625. If it breaks through this zone cleanly, we could see bullish continuation.Watch for rejection or absorption in the supply zone, it could offer entries.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.