The price is at two important levels at the same time: horizontal support, trendline support. Breaking through the two levels is a good opportunity to go short. On the other hand, we can go long in case of a rejection.
I think it more likely to be a breakout considering the previous long consolidation period which can indicate the weakening of the overall trend.
Watch lower time frames for a good entry.
Good luck, :)
I think it more likely to be a breakout considering the previous long consolidation period which can indicate the weakening of the overall trend.
Watch lower time frames for a good entry.
Good luck, :)