Price has been moving in a downward channel since achieving an all-time high, with the upper, lower, and midway bounds being respected.
Price bounced off the lower barrier at the same time as the 0.618 Fibonacci level, resulting in a test of the higher limit.
As price approaches the upper border, a trade setup possibility emerges. A great long opportunity will be created if the price can break past the weekly and upper boundaries.
If the top limit is rejected, a solid short trade back to the range's middle will be available. Over the next few days, keep an eye on this one.
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Thanks and happy trading :)
Price bounced off the lower barrier at the same time as the 0.618 Fibonacci level, resulting in a test of the higher limit.
As price approaches the upper border, a trade setup possibility emerges. A great long opportunity will be created if the price can break past the weekly and upper boundaries.
If the top limit is rejected, a solid short trade back to the range's middle will be available. Over the next few days, keep an eye on this one.
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Follow us on our socials for more!
Thanks and happy trading :)
