Price is at an area of resistance at 0.69656.
Price has been bouncing off the support rend line. Due to the recent rejection of the support trend line, I believe the price could break through the resistance level (0.69656) and reach 0.70388. Before taking a long position, I will ait for clear confirmation of a breakthrough of the resistance level.
However, the recent high wicks in the 4H candles provide caution that there is not much bullish strength here. Therefore it is possible that the price may break below the support line.
Confirmation of the breakthrough BEFORE taking a long position is crucial here.
Price has been bouncing off the support rend line. Due to the recent rejection of the support trend line, I believe the price could break through the resistance level (0.69656) and reach 0.70388. Before taking a long position, I will ait for clear confirmation of a breakthrough of the resistance level.
However, the recent high wicks in the 4H candles provide caution that there is not much bullish strength here. Therefore it is possible that the price may break below the support line.
Confirmation of the breakthrough BEFORE taking a long position is crucial here.
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