◼In the weekly timeframe, as you can see, the price has been in a corrective phase since it fell below the $2060 range. After experiencing some positive fluctuations, it has once again entered the FAIR VALUE GAP zone. Currently, it's trading around $1851, and the overall trend in the weekly timeframe is bearish.
If the price continues to stay below the LOW of the $1885 range and the weekly candle closes strongly bearish, we can expect that the price will continue its correction in the medium term towards the support levels at $1830, $1800, and $1780. To get a better understanding of the price's future movement, we need to monitor how it reacts to these support levels. If the support levels hold and are confirmed on lower timeframes, there might be some partial positive fluctuations.❗❗
◼On the other hand, if the support ranges break down, the possibility of a more significant correction in the long-term timeframe could be considered.❗
⭕The important resistance range is $1890 to $1918.
✨What's your opinion? Do you agree?
🔵Remember, always conduct your own analysis and consider other factors before
making any trading decisions. Good luck!"✌️
❎ (DYOR)...⚠️⚜️
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!
if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
If the price continues to stay below the LOW of the $1885 range and the weekly candle closes strongly bearish, we can expect that the price will continue its correction in the medium term towards the support levels at $1830, $1800, and $1780. To get a better understanding of the price's future movement, we need to monitor how it reacts to these support levels. If the support levels hold and are confirmed on lower timeframes, there might be some partial positive fluctuations.❗❗
◼On the other hand, if the support ranges break down, the possibility of a more significant correction in the long-term timeframe could be considered.❗
⭕The important resistance range is $1890 to $1918.
✨What's your opinion? Do you agree?
🔵Remember, always conduct your own analysis and consider other factors before
making any trading decisions. Good luck!"✌️
❎ (DYOR)...⚠️⚜️
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!
if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌✌
Comment:
TP: 1830✅
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