We observe a global ascending channel with clearly defined buy and sell zones where the sell zones on the chart are marked sequentially as 1, 2, 3, and 4.
In addition, there is a secondary descending channel, which indicates that the current price is located within an area of global (long-term) accumulation.
At these levels it is already reasonable to start building a position, while keeping in mind that the price may still be pushed lower.
If further downside occurs it will represent an even better opportunity for accumulation. If the price does not go lower - the current entries remain justified.
In the event of a continuation within the descending channel and a confirmed breakout and consolidation above the red zone, a price move toward the maximum target in the purple zone.
All possible scenarios are illustrated on the chart.
