- Price is in an overall uptrend, creating higher highs and higher lows
- Price made a bullish push and broke above the initial resistance/supply zone (blue rectangle), which now acts as a form of support/demand zone.
-Price previously closed as a hanging man candlestick pattern which also hints at a possible reversal.
- If the next candle ends in a bearish candle, I will anticipate price to sell off and test and find support near the 50.0-61.8 fib level.
- Price made a bullish push and broke above the initial resistance/supply zone (blue rectangle), which now acts as a form of support/demand zone.
-Price previously closed as a hanging man candlestick pattern which also hints at a possible reversal.
- If the next candle ends in a bearish candle, I will anticipate price to sell off and test and find support near the 50.0-61.8 fib level.