The price has been dropping in the channel since April 2019. At the same time, it has already made false breakouts of trend support three times. June and August 2019 and May 2021 are marked on the chart. After such breakouts, the price started to rise. I expect the price to be: 1 - will rise to the resistance level of 0.918. 2- gain a foothold on it. 3 - will continue to rise to the resistance line (May 2019). The target is 0.925.
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Last time in 2019, after the first false breakout, the price could not rise to the channel border, does it mean that this time we should expect another breakdown first and only then growth?
Solldy
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Thank you for showing a false break! It seems to me that it will only help the price rise quickly and rapidly! I cannot call this channel strict, as there were big breakouts of the bottom line! Could the same situation be repeated with the upper channel line? And will the price be able to bounce down from the dotted resistance line?
TradingAlchemist
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