Bonak has returned to a major support level alignment with 0.618 Fibonacci Retressment, Dateim Fream (HTF) support and a major video node. The price is now sitting at a make-end-brake level which is the next directional Mot.
Summary
- Bonk is in a high-connection support with fibonacci, daily structure and volume backing.
- Catching the zone is a higher low and supports rapid continuity.
- The breakdown price can trigger a step for the area and can invaluate the current trend.
After the daily swing failed to close above the high resistance, Bonak (Bonak) started an intensive improvement, which now has a high-considering support support. The region includes 0.618 Fibonacci Retressing Level, HTF daily support and control point from the current volume range. The coming days will determine that the level is as a basis for continuity or breakdown to invite the future negative side.
Major technical points
- Support Conflict: 0.618 Fibonacci, HTF daily support, and volume of control.
- Main resistance rejection: The daily swing high could not be done on the basis of closing.
- Market Structure Risk: The loss of support opens the door to reduce the value area and reduce the swing.
The recent price action of the bone reflects a decisive rejection after testing the high deadline resistance near the daily swing high. The inability to close that resistance caused a change in speed, a revolution that the value that is high was lost. The price is now retreat in a major volume support area that aligns with several technical levels.
This current region connects 0.618 Fibonacci Retress, which often serves as a string reversal level dering correction, and HTF Daily Sport, which historically serve as a basis for bulls rotation. Additionally, the talk of control of volume profiles is located in this region, reinforcing this signal of this region as a support cluster.
From a market structure person, this is an important fact. Catching this support work is a higher in the ongoing rapid ongoing trend of high and high. This will retain the large structure and elevate a rotation back trident swing.
Failure to catch this zone, how, the wound rapidly negates the structure, has a price value increasing the possibility of a motor tree and potentially swing is low, where a very darker can be closed. This will reset the current speed speed and bring Bonak back into a broad trading range.
Encous are, the volume profile is showing rapid flow at this stage, which of the couple from the couple indicates accumulation and support buildings in this key area. If it continues and is a price, then a reversal becomes possible. A rotation back ticked last high will confirm it as corrective low and strengthen rapid continuity.
Bonak is now at an important level where structure, volume and trend all convergence. Traders should closely monitor which area is, as it will define the ongoing strength
What is expected in the upcoming price action
If Bonk 0.618 holds fibonacci and daily aid area, the swing is likely to be a reversal towards the high. From here a breakdown price opens the door to the lower lavels in the area.
