The price of Bonak has returned to a high level from a rented swing after the price of Bonak rejected to daily resistance, but a confection of major support for a new opportunity for a rapid upsurge.
Summary
- Bonak was rejected from daily resistance and is now coming to the point of control, where strong support confectionex is present.
- The $ POC sector aligns with daily support and 0.618 fibonasi retracement.
- A bounce with the quantity of boom may trigger a step at a high level recently, while failure increases the risk of deep improvement.
After an impulsive mott by the price area low, the bonek (bone) installs a swing high on the dedel resistance before starting its current retracement. The bottom breakdown marks the first signal of excessive weakness, and since, the value has been constantly falling towards the point of control, a high-proclaiming area that serves as a lounchpad for the next step.
Major Technical Points:
- Support support on POC: POC, 0.618 fibonacci, and daily support all alignment in the same area.
- The market structure remains rapidly: The current improvement may be a high low if support is held.
- Volume profile important: The amount of sharp amount is required to validate any reverse from this region.
The posture is perfect, which appears a slowdown on the surface, structurally healthy from a market perspective. Rejection from daily resistance was technically valid after an extended upward moving upwards. However, the price now reaches a significant trading location where there are several technical level intersections. POC, 0.618 Fibonacci Retress, and Daily Support Zone are all stacked in the field, making it a high-product area for a tablet.
If Prime reacts positively from the region, it acquires a high low, which continues the current market structure. From the point of view of a businessman, it is an important level to see, as it can provide a favorable entry point when it returns to demand. A successful jumping increases the chances of a rotation towards daily resistance and possibly a break of the swing high.
However, a significant feature remains in validating the volume setup. As the bonak struggle tested the support area, the volume profile needs to show a clear rapid flow to confirm that buyers are being stepped into. Without this, any reaction may lack stability, and the risk of breaking blue increases. A break of this region will probably be an intensive improvement and invalid
Despite the fall in the price, the widespread trend remains intact as the POC region lasts for a long time. The structure of high high and high climbing can be valid if the value forms a base here and starts moving upwards again. Until the support is broken, the technical bias is rapidly bent towards continuity.
What is expected in the upcoming price action
Bonak is getting closer to a major support conflict around the point of control. If the price hold and the bulish volume returns, then it is likely to jump towards the recent higher. However, if the volume remains weak and the POC breaks down, a deep retracement may come out.