Looking at yesterday's rejection region, it corresponded to the previous counter-trendline resistance that was formed prior to the January 5th dip.
The $41800 level, which is the range point of control drawn from the start of the trendline to the present price action + 0.618 Fibonacci level, could provide some potential support. We'd like for this area to remain stable. Otherwise, we might see a test to the range's bottom.
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The $41800 level, which is the range point of control drawn from the start of the trendline to the present price action + 0.618 Fibonacci level, could provide some potential support. We'd like for this area to remain stable. Otherwise, we might see a test to the range's bottom.
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Follow us on our socials for more!
Thanks and happy trading :)