2026-06-12 07:50 UTC
Price broke below prior support with conviction but failed to sustain.
Evidence Large bearish candle with close below prior lows.
Price reached a new low with high volume, indicating potential capitulation.
Evidence Large bearish candle with significant volume.
Price reclaimed prior breakdown level, indicating a failed breakdown.
Evidence Bullish candle closing above prior breakdown level.
Price continued higher, confirming the reclaim.
Evidence Bullish candle with close above prior day's high.
Latest candle defines the current reaction state.
Evidence Bullish conviction candle with close near high.
High volume on the capitulation low suggests potential selling climax.
Evidence Volume significantly above 60-day average.
Increased volume on reclaim candle supports upside move.
Evidence Volume above 20-day average, supporting price reclaim.
Maintain the current long position as the bullish thesis remains valid.
HOLD LONG
Maintain the current long position as the bullish thesis remains valid.
The price continues to show bullish momentum after reclaiming the prior breakdown level, and the latest candle supports this trend. The position is still aligned with the initial trade thesis.
- Price reclaimed prior breakdown level, indicating strength.
- Bullish reclaim candle on June 5 with supportive volume.
- Continuation candle on June 6 confirms upside momentum.
Monitor resistance at 0.1795 for potential selling pressure.