Honestly, I still see strong signals for an upward trend in the market overall. 👀 Those bounces we are seeing, like yesterday's bounce, I consider to be a healthy and normal movement in the context of this rise. 💪
📈 This wavy golden line (MA(7)) and the red line (MA(25)) seem to be supporting the price from below, which often indicates a continuation of bullish momentum in the short to medium term.
📉 As for this wavy purple line (MA(99)), it is located much lower than the two, reinforcing the idea of a bullish trend in the longer term.
🚧 The important resistance area you mentioned, from which the price seems to have temporarily bounced, is very expected. Reaching strong resistance levels often leads to a slowdown or temporary reversal in movement. Imagine it as a solid wall that the price is trying to break through.
📊 Look at the trading volumes below (Vol), they seem to be increasing at some highs, which may give greater credibility to those upward moves.
The correction scenarios you mentioned are certainly still possible, as the market does not always move in a straight line upwards. 🌊 Any drop that may occur could be a good opportunity to enter or to strengthen positions for those who believe in continued upward movement.
In short: I am generally optimistic, and I see that the recent bounce was expected at an important resistance area. Let's watch how the price reacts to these levels, and whether buyers will be able to break through this barrier and take off upwards! 🚀🌕
