Descending triangle on the daily.
Notice how the supply zone (red box) maintained an aggressive resistance.
Previous demand zone later turned into supply zone (purple box) that the price couldn't sustain.
If this breaks the triangle, it may see some bids in the demand zone (green box) of the previous ATL.
Overall, bearish.
Educational purposes only. Not financial advice.
Notice how the supply zone (red box) maintained an aggressive resistance.
Previous demand zone later turned into supply zone (purple box) that the price couldn't sustain.
If this breaks the triangle, it may see some bids in the demand zone (green box) of the previous ATL.
Overall, bearish.
Educational purposes only. Not financial advice.
Comment:
Resistance broken.