The four-hour frame shows good positive indicators, as price is currently moving in a sub-uptrend after rebounding from the most recent low levels. Price is approaching the breakout of the exponential moving averages, which strengthens the chances of the uptrend continuing and targeting higher levels.
The current and strong support for the currency lies at the 0.597 level, supported by the SuperTrend indicator. Meanwhile, the previous peak at 0.651 forms the first resistance that price needs to break in order to open the way toward the 0.675 levels.
At the moment, the chances of upside are higher than the chances of downside, due to stability above the key support levels and the positive movement of the technical indicators. The probability of a decline remains only if the aforementioned support levels are broken downward; then moving upward toward the next resistance is the closest scenario.
The available spot trade based on these details is as follows:
Entry from the current price at 0.629, or with any pullback toward 0.612.
First target: 0.651.
Second target: 0.675.
Stop loss: closing of the four-hour candle below 0.595.
Press here to trade👇🏻
$APT
✍️ Mohamed Noah Moneih ✍️
#Bitcoin$60K$70KRangeHits307DayConsolidation
#BitcoinRetestsKeyResistanceAt$64400 #SKHynixToExpandADRIssuance #FordQ2USSalesDrop10.3% #OracleFlags$20BAdditionalCapitalRaise
The current and strong support for the currency lies at the 0.597 level, supported by the SuperTrend indicator. Meanwhile, the previous peak at 0.651 forms the first resistance that price needs to break in order to open the way toward the 0.675 levels.
At the moment, the chances of upside are higher than the chances of downside, due to stability above the key support levels and the positive movement of the technical indicators. The probability of a decline remains only if the aforementioned support levels are broken downward; then moving upward toward the next resistance is the closest scenario.
The available spot trade based on these details is as follows:
Entry from the current price at 0.629, or with any pullback toward 0.612.
First target: 0.651.
Second target: 0.675.
Stop loss: closing of the four-hour candle below 0.595.
Press here to trade👇🏻
$APT
✍️ Mohamed Noah Moneih ✍️
#Bitcoin$60K$70KRangeHits307DayConsolidation
#BitcoinRetestsKeyResistanceAt$64400 #SKHynixToExpandADRIssuance #FordQ2USSalesDrop10.3% #OracleFlags$20BAdditionalCapitalRaise
