"The is a that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling definitely slope down and have a bias. However, this bias cannot be realized until a resistance breakout."
We want this to break to the upside.
If the pattern fails, we are looking at $3650 - $3750 for support.
If the pattern succeeds, we are looking at ~$4500 as our target.
This is an educational post. Thanks a lot for reading.
Additional bullish action expected.
Thanks a lot for your support.
A Doji star is bullish if it comes out at the bottom of a trend (in this case the retrace).