We are in the 4-hour time frame. The red line was previously the support which is now broken. The price can be forming a H&S pattern which can promise the market to come back. If the price goes up to the first resistance zone and is rejected, it can fall down to the first support zone and then second if not supported.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.