💎 TONUSDT
Market breakdown
As much as I didn’t want it to, the last review once again turned out to be prophetic…
The price collected all significant local minimums, pinning 5.251 with precision, and on the rebound, it still knocked down the support.
During the day, I expanded the channel for a better view of the whole picture, so we marked the new boundaries of the ascending corridor and outlined the landmarks.
What do you need to understand now?!
1️⃣ The price from the current level can easily bounce off the lower boundary and gradually (on the positive side) return to the intersection of the trend and significant resistance at $6.3
2️⃣ Within the deviation (exit from the channel), the price has the right to go lower (behind your stops) and prick $4.44, marking a new weekly minimum and beautifully returning to the channel.
3️⃣ The main thing for longs is not to fix below $4.6 - otherwise this can be regarded as a breakdown of the ascending structure with all the ensuing consequences...
4️⃣ I would advise short sellers not to get carried away, because this is a dangerous undertaking, even in a protracted, but still bullish market.
I will add that the channel also looks good for selection on the week, and the RSI has been temptingly cooled.
Market breakdown
As much as I didn’t want it to, the last review once again turned out to be prophetic…
The price collected all significant local minimums, pinning 5.251 with precision, and on the rebound, it still knocked down the support.
During the day, I expanded the channel for a better view of the whole picture, so we marked the new boundaries of the ascending corridor and outlined the landmarks.
What do you need to understand now?!
1️⃣ The price from the current level can easily bounce off the lower boundary and gradually (on the positive side) return to the intersection of the trend and significant resistance at $6.3
2️⃣ Within the deviation (exit from the channel), the price has the right to go lower (behind your stops) and prick $4.44, marking a new weekly minimum and beautifully returning to the channel.
3️⃣ The main thing for longs is not to fix below $4.6 - otherwise this can be regarded as a breakdown of the ascending structure with all the ensuing consequences...
4️⃣ I would advise short sellers not to get carried away, because this is a dangerous undertaking, even in a protracted, but still bullish market.
I will add that the channel also looks good for selection on the week, and the RSI has been temptingly cooled.