" Breakout Alert: Key Levels to Watch for Your Next Trade! "

Moving Average Channel (20 High and 20 Low):
The price is currently trading between the 20 High (red line) and 20 Low (white line), suggesting a squeeze or consolidation phase.
A breakout above or below this channel could indicate the next directional move.

Current Bias:
The price has tested the lower end of the channel (near $609), showing buyers stepping in to defend this level.
The price is attempting to push back toward the 20 High (red line) but faces resistance there, which aligns with the bearish momentum from earlier candles.

Trading Scenarios Based on the Channel:
1. Bullish Scenario (Break Above the 20 High):

If the price breaks and closes above the 20 High (red line), it may signal a bullish move.
Target: $620 (short-term resistance) or higher, depending on the momentum.
Volume confirmation is key for a sustained move upward.

2. Bearish Scenario (Rejection at the 20 High):

If the price fails to break above the 20 High, expect a possible test of the 20 Low (white line) or lower.
A breakdown below the 20 Low could open the door for further downside, targeting $603 or beyond.

3. Range Scenario (Between 20 High and 20 Low):

The price may continue to trade within the channel until a clear breakout or breakdown occurs.
In this case, you could use the 20 High as dynamic resistance and 20 Low as dynamic support for range-bound trades.

Additional Notes:

Breakout vs. False Breakout: Watch for a clean breakout (candle closing above/below the 20 High/Low) instead of a wick.
Momentum Check: Look for volume to confirm the validity of moves outside the channel.
Dynamic Trend: Since the 20 High and Low are dynamic, adjustments may be needed as new candles form.