Where will the real side show itself? Bears trying to break supp
Thesis
Price might break support right below or just go up because of high volatility.
Trend
On the daily price is overall to the downside, and just rejected to the downside.
Question of the week
Is the created support zone just to trap longs to grab their stop-loss or is it an accumulation buildup due to high volatility?
My take
In my opinion it's a trap to accumulate stop-losses just below the level to continue it's overall trend to the downside.
Support level from the 4h chart
Downtrend continuation from the Daily chart with price trading below the 200 EMA (in orange)
Price might break support right below or just go up because of high volatility.
Trend
On the daily price is overall to the downside, and just rejected to the downside.
Question of the week
Is the created support zone just to trap longs to grab their stop-loss or is it an accumulation buildup due to high volatility?
My take
In my opinion it's a trap to accumulate stop-losses just below the level to continue it's overall trend to the downside.
Support level from the 4h chart
Downtrend continuation from the Daily chart with price trading below the 200 EMA (in orange)