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Price is still inside of the channel, keeps rejected by horizontal resistance, which can lead the price to retest the support trendline and the Mid Line of the channel.
However if there is a breakout of horizontal resistance it can be a confirmation for the ascending triangle, but in this case we have tough resistance node that contains 50 MA, Fib Fan resistance and the Ichi Cloud resistance zone. So the long position can be considered only if we have a breakot of this resistance node.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Price is still inside of the channel, keeps rejected by horizontal resistance, which can lead the price to retest the support trendline and the Mid Line of the channel.
However if there is a breakout of horizontal resistance it can be a confirmation for the ascending triangle, but in this case we have tough resistance node that contains 50 MA, Fib Fan resistance and the Ichi Cloud resistance zone. So the long position can be considered only if we have a breakot of this resistance node.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.