Monthly supply area is nested with a Weekly supply area
The weekly area has been breached and approaching the monthly supply area
This is also inline with key weekly and monthly fib levels.
There are many valid trendlines on daily but these are weak representations so not applying them into my analysis.
I expect Price to continue up and based on a reaction...
With the last daily candle closing orders within the supply area - also support turned resistance area - todays daily candle would need to close ABOVE the base bottom to encourage further bullish movement
Price has been respecting bullish movements and breaking through each key level.
Price will continue up to the next key level - this is also in line with a descending trendline, 3rd touch, break out will create more bearish momentum
Last week showed a 50% increase after forming a Equal Low structure - this is also in line with weekly base touch.
Price is showing equal LTF High on H4 and so expect a continuation to the upside but with a poss HL formation on Step3 structure