It is looking likely that the price has completed a double top, which is considered a bearish pattern. In addition, the pattern is combined with bearish divergence, which makes a breakdown more likely.
The price is following an ascending support line, which is currently at $6200. A breakdown from the support line would most likely take the price to the next support area, which is found at $5750.
If the price travels the entire height of the double top pattern, it could reach the next support area at $4550, which marked the daily close during the bottom of March 13 and the subsequent bottom of March 18.
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The price is following an ascending support line, which is currently at $6200. A breakdown from the support line would most likely take the price to the next support area, which is found at $5750.
If the price travels the entire height of the double top pattern, it could reach the next support area at $4550, which marked the daily close during the bottom of March 13 and the subsequent bottom of March 18.
please leave a LIKE & COMMENT if you enjoyed the analysis.
Nota
aaand the price finally broke down.Waiting for it to reach the target.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.