Alikze »» TRAC | Pullback to Neckline

🔍 Technical analysis: Pullback to Neckline

- The 8H and 12H frames are moving in a downtrend.

- Given the descending faithful, the return of the descending canal can be the broken structure to continue the descending route.

- If the money is on the line and cannot penetrate it and cut down the descending channel, it can continue the downtrend in the first step to 0.5859.

💎 Possible Scenario: Depending on the structure and behavior as well as the descending faithful, the scenario can be achieved until the green box and liquidity range can be achieved.

💎 Alternative scenario: Also, if it can cut the supply range and channel ceiling, it can test the next supply zone, which must have a stabilization top.

🛑 Resistance range: 0.83 - 0.805

🟩 Support range: 0.488 - 0.537

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