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Alikze »»TIA | Movement in the descending channel

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🔍 Technical analysis: Movement in the descending channel
- It is moving in a downward channel in the daily and 4H time frames.
- It is located in the middle of the channel and within the liquidity zone. If it can be placed above the region and the middle of the channel, it can retest the ceiling of the supply range channel.
- The most important resistance for an upward trend is the $12.5 range.
- By breaking the $12.5 range, it can have an upward trend. Otherwise, the downward trend will continue.
💎 Alternative scenario: If selling pressure is encountered in the current range and the middle of the channel, the first downward target will be the bottom range of the channel and then the target of 6.25.
💎 In addition, if this channel is broken, it can touch the green box area as much as the width of the channel.
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ノート

According to the presented analysis, after not confirming the top of the liquidity zone, the corrective path has extended to the blue strip and the bottom of the channel.

ノート

According to the movement path, after penetrating below the liquidity zone, it has faced correction, which has experienced more than 31% correction, which has now approached the green box area after touching the first target. Therefore, you should wait for demand in the range of the green box. If the behavior and structure of the post changes, it will be updated.