If we look back at my previous post, the bears have managed to push the price down considerably
I then called towards $3150 but the bulls failed to hold the support there too and we made a fall with an outlier to $2651.
From there we are almost in a sideways course and waiting for another move.
I made the chart at 12 o'clock because we can see the trends very well there and that a triple bottom formation is in the making or sometimes called 3 rivers.
Whether it will actually continue depends on whether the bulls manage to break through the resistance around $3000.
In addition to the 3 double bottom, there is also an upward triangle in my view.
This is in most cases a continuous pattern (when the market goes down, the pattern continues the price), but it can also turn out to be a reversal pattern.
Maybe some Hopium but I certainly want to bring these kinds of signals to light.
All well let's not forget that if the bulls lose the $2800 ~ $2700, the bears can move further towards $2500 ~ $2350.
Keep calm, trade safe and manage your risk.
*(Disclaimer: this is not financial advice)*
I then called towards $3150 but the bulls failed to hold the support there too and we made a fall with an outlier to $2651.
From there we are almost in a sideways course and waiting for another move.
I made the chart at 12 o'clock because we can see the trends very well there and that a triple bottom formation is in the making or sometimes called 3 rivers.
Whether it will actually continue depends on whether the bulls manage to break through the resistance around $3000.
In addition to the 3 double bottom, there is also an upward triangle in my view.
This is in most cases a continuous pattern (when the market goes down, the pattern continues the price), but it can also turn out to be a reversal pattern.
Maybe some Hopium but I certainly want to bring these kinds of signals to light.
All well let's not forget that if the bulls lose the $2800 ~ $2700, the bears can move further towards $2500 ~ $2350.
Keep calm, trade safe and manage your risk.
*(Disclaimer: this is not financial advice)*
Tims.Technische.Analyse by TIMTIBBO
