Things getting more clear now. As price dropping, demand zones are closer to us. I don’t wanna see nepse to lost the area marked. But deviation is acceptable. For the strong trend continuation, we need quick reversal from the area marked or even after price deviated below the range.
As shown in the chart, price lost median support on May 2022. First retest made on July 2022 but got rejected hard. As a result, market took 5 months (December 2022) to reclaim above the median channel.
As we all know, market went sharp up after reclaiming above the median range and first retest was made on April 2023 (4 months after the break out period).
As per today’s date, Price is still ranging above the median and trying to make another retest on the channel. Let me tell you something, if market is strong enough to push the price higher, price must hold the median range or any deviation should reclaim back soon.
As long as market is above median, there is no reason to change my opinion. So lets see how we go this week.
