It is over the 4H ichimoku cloud in an ascending triangle pattern. In case it breakout upward, it can jump to 10.6k-10.7k for a short stop hunt and on retail fomo. at 10.5k there is a massive sell walls and most short stops will be behind it.
But price action is in a bigger ending diagonal/rising wedge pattern and will print a bearish divergence on the 4H RSI if it is rejected by the wedge resistance, resulting in a breakout down from the wedge.
Volatility is expected to surge massively. so there can be big whiplash moves, or large candles in either direction. This is a no trade zone unless you already are in a position, but positions in either direction are in danger of being stopped out because of greater volatility. It is preferable to enter a trade after confirmation of a trend.
But price action is in a bigger ending diagonal/rising wedge pattern and will print a bearish divergence on the 4H RSI if it is rejected by the wedge resistance, resulting in a breakout down from the wedge.
Volatility is expected to surge massively. so there can be big whiplash moves, or large candles in either direction. This is a no trade zone unless you already are in a position, but positions in either direction are in danger of being stopped out because of greater volatility. It is preferable to enter a trade after confirmation of a trend.
Comment:
Price action was rejected by resistance and heading to the triangle support.
