There is bearish convergence on the daily charge identified by the RSI,
Price has previously rejected the 61% fibonacci level on a daily time frame, and appears to be finding support on its second attempt at the level
Price is also reinforced by the lower bound of a wedge formation, expecting price to test the upper resistance of the wedge where the TP will be set ($310).
Inverse head and shoulders has also formed on the 4h time frame
Entry: $214
TP: $310
SL: $178
Price has previously rejected the 61% fibonacci level on a daily time frame, and appears to be finding support on its second attempt at the level
Price is also reinforced by the lower bound of a wedge formation, expecting price to test the upper resistance of the wedge where the TP will be set ($310).
Inverse head and shoulders has also formed on the 4h time frame
Entry: $214
TP: $310
SL: $178