So I'm looking at the 12hr and what I'm seeing is an incomplete triangle pattern trying to play out. If price doesn't bust out here then we looking at a bearish pattern and more likely a break to the downside. When we get into the E wave, we may see a price pump. Soon after that it will hit a resistance level and fall dramatically. ABCDE. With E ending up top of the pattern, a downside will occur.....IMO
With talk of recession etc, fundamentals point down. So I'ma say a great chance to short is nearing. We may see the massive drop, a retest, then a drop once the pattern has completed in the next few days.
With talk of recession etc, fundamentals point down. So I'ma say a great chance to short is nearing. We may see the massive drop, a retest, then a drop once the pattern has completed in the next few days.
