The price is moving within an ascending channel on the 1-hour timeframe and is adhering to it well. It is poised to break out strongly and retest the channel.
We have a downtrend line on the RSI indicator that is about to break and retest, which supports the upward move.
There is a key support zone in green at the 3900 price level, representing a strong support point.
We have a trend to stabilize above the 100-period moving average.
Entry price: 4020
First target: 4050
Second target: 4100
Third target: 4179
Don't forget a simple point: capital management.
Upon reaching the first target, save some money and then change your stop-loss order to an entry order.
For any questions, please leave a comment.
Thank you.
