At the moment we are in a downtrend on short term time frames. We can see the price is currently consolidating within the wedge formation and it looks like there will be a breakout soon. You can view it more clearly on the 15min time frame, but if you take a look at the 1H as well, you can see that we also might be able to retest a descending trendline for the 3rd time before dropping again. Overall, bearish sentiment remains. Let's see how this plays out.
This is NOT a financial advice, trade at your own risk!
This is NOT a financial advice, trade at your own risk!
Comment:
Please note that the arrows are not meant to display an accurate price movement. They simply indicate which direction the market will chose to go.