The price hits strong resistance from sellers in the 2087-2135 zone. The price continues its upward movement if buyers absorb strong supply.
If the price drops below $1931 and the candle covers this level with its body, this will mean a market reversal in the bearish cycle on the 4-hour time frame.
If the price drops below $1931 and the candle covers this level with its body, this will mean a market reversal in the bearish cycle on the 4-hour time frame.
Commentaire:
As you can see on the weekly chart, the price is rebounding into the strong supply zone beginning in August 2020.
