What we can see in the chart is a rising wedge pattern. We expect the price to break down from the rising wedge formation. It may take a little bit more time since the price is still consolidating inside the wedge. You should enter short position when/if the price breaks down of the wedge with a volume surge. Do not forget to put a stop loss once you enter the trade. Stop loss should be placed above the wedge.
Comment
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The price remains in a rising wedge. The trade is still valid.
Trade active
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The price broke down. Expecting more downside on this one
The asset should test the levels more for the scenario to be confirmed. Thanks for sharing the vision!
Solldy
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I don't agree with your vision, it seems to me that the idea is too exaggerated, and there is no confirmation of this scenario right now. What will you do if the price goes the other way?