Touched one time, will probably test it again and break up on the 3rd retry. This price action retests the cup and handle neckline, confirming it and its target at 11.5k.
Some people say this is a high resistance zone because price after yearly ath in june was supported there many times. but on October 25th, price punched through it like butter. This is similar to the 6k region as price was going up from the yearly 2019 bottom. Price went through 6k like it never existed.
in this run, price did not have the momentum as in october 25th, so retests acknowledges the existence of this resistance zone.
Some people say this is a high resistance zone because price after yearly ath in june was supported there many times. but on October 25th, price punched through it like butter. This is similar to the 6k region as price was going up from the yearly 2019 bottom. Price went through 6k like it never existed.
in this run, price did not have the momentum as in october 25th, so retests acknowledges the existence of this resistance zone.
