Price seemed trapped between Daily resistance and Monthly support for a long time now. It tried to break to South only to be rejected fiercely by buyers demand. However there are not enough sellers afterwards that bring the price back down.
Breakout to North seems more probable than going further to South in the outer channel (white line). Get ready for it.
Breakout to North seems more probable than going further to South in the outer channel (white line). Get ready for it.
Commentaire:
Price is still trapped between Daily resistance and Monthly support. Strong bearish power preventing price from going up. Breakout to North following Weekly channel is still to be expected.