Starting from the assumption that we are in consolidation, we are soon to see a big move on the market, the only question is in which direction. I have drawn a macro trendline and on top of that asimetric green triangle as a bullish triangle break scenario and almost simetric bearish triangle break scenario. The bullish one is more according to technical analysis standards but the 1h candles aren't proving it so far, so far they are actually moving according to the bearish triangle.
Now, as for the point of this analysis, assumption is that the bull market trend WILL CONTINUE no matter which scenario plays out in this analysis, but the point is that the bearish break, if it is going to happen at all, will happen on 28th of May, and the bullish breakout on 31st May. This means that on 29th of May if no major movements on the market are made (look at the lines for staying within bullish scenario) that the chance we are going up increase and could happen at the end of the month.
Let e know what you think and don't be too harsh on me :D
Now, as for the point of this analysis, assumption is that the bull market trend WILL CONTINUE no matter which scenario plays out in this analysis, but the point is that the bearish break, if it is going to happen at all, will happen on 28th of May, and the bullish breakout on 31st May. This means that on 29th of May if no major movements on the market are made (look at the lines for staying within bullish scenario) that the chance we are going up increase and could happen at the end of the month.
Let e know what you think and don't be too harsh on me :D
Comment:
Wick on the up side going outside bullish triangle but quickly pulling back within boundaries, that was a bull trap for some, the major move is yet to come