$ALPINE , chart 1H.
Today I do not understand the medium-term outlook, but I see the short-term one.
I looked at the chart from the perspective of Smart Money, technical analysis, and Fibonacci levels.
I found a zone where three concepts intersect:
- 38% Fibonacci level;
- Breaker Block according to Smart Money;
- break of the local trendline according to technical analysis.
This zone is approximately in the range of $0.716 – $0.729.
I highlighted this intersection with a circle on the chart.
What does this mean? In all three approaches, this zone is considered a risk area and potential correction.
Usually, when reaching such zones, the price goes into a correction of -50% / -60% from the entire movement that the price has made from bottom to top.
What will happen next — I do not know and today I will not even venture to speculate.
This is not a signal, just my thoughts. I do not know how it will be in fact. Manage your risks.
Chart: 1H.
