🔍 Technical Analysis Summary
1. Key Support Zone (Blue Box)
Around $94,500–$94,600, this zone has held multiple tests, confirming it as a strong support area.
This base acts as a potential launch point for a bullish move.
2. Breakout Structure
Price recently broke above a local resistance near $94,900, suggesting a potential bullish continuation.
A retest of that broken level (black horizontal line) is expected, as drawn in the projected price path.
3. Resistance/Target Zone (Green Box)
Around $95,600, this is a prior supply zone where price was previously rejected.
The chart suggests a projected move toward this target, making it a clear take-profit area.
4. Stop-Loss Area (Red Zone)
Below the blue support box, around $94,626, this would be the invalidation level for the long setup.
5. Volume
Modest volume increase is seen on the recent breakout attempts, lending some confirmation to the bullish move.
📈 Trade Setup Summary
Entry: On breakout and possible retest near $94,900.
Stop-Loss: Below $94,600.
Target: $95,600 resistance zone.
Risk/Reward Ratio: Favorable, assuming tight stop below support.
✅ Bullish Bias Reasoning
Strong support base formed.
Breakout of local resistance.
Clear upside target.
Structured trade with defined risk/reward.