People will take profit at the opening bell, and we will backtest the 11462.9 level.
Afterward; we will break the resistance level at 11581.6 either this week or at the beginning of the following week.
My price target in the mid-term is between 11802.1 and 11929.3
In sum: the whole chart looks bullish to me because we had a "Double Bottom" and a successful backtest, and we also had 2 breakouts above with a 1-1 backtest.
But we are currently at a strong resistance level, so wait for a small dip...
If the opposite scenario plays out: the support line breaks (red), this analysis won't be relevant.
Afterward; we will break the resistance level at 11581.6 either this week or at the beginning of the following week.
My price target in the mid-term is between 11802.1 and 11929.3
In sum: the whole chart looks bullish to me because we had a "Double Bottom" and a successful backtest, and we also had 2 breakouts above with a 1-1 backtest.
But we are currently at a strong resistance level, so wait for a small dip...
If the opposite scenario plays out: the support line breaks (red), this analysis won't be relevant.
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False breakout
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