We can see a bearish pennant has formed from 5th July to 6th July. If price breaks below diagonal support, we will enter a retest phase where we have to wait for confirmation.
If everything plays out according to plan, Phase 2 initiates, where there will be another retest for support at $19,975. Once bearish is confirmed, we will head down towards the $19,500 level.
If everything plays out according to plan, Phase 2 initiates, where there will be another retest for support at $19,975. Once bearish is confirmed, we will head down towards the $19,500 level.