I believe this descending triangle on the 4-hour aptly explains market movements.
The markets were completely bullish after the break on the 25th. Moreover, it again rose on the following Sunday re-establishing the belief. However, the bulls have been losing strength since then, hence the formation of the descending triangle.
As you might notice, I have ignored one wick on the upper side on 28th when price reached $9950. However, that was an isolated event motivated by CME due to the weekend gap. It hardly affected the sentiments.
The market looks prepared for a move either side, I would pay attention to a break from this triangle.
The markets were completely bullish after the break on the 25th. Moreover, it again rose on the following Sunday re-establishing the belief. However, the bulls have been losing strength since then, hence the formation of the descending triangle.
As you might notice, I have ignored one wick on the upper side on 28th when price reached $9950. However, that was an isolated event motivated by CME due to the weekend gap. It hardly affected the sentiments.
The market looks prepared for a move either side, I would pay attention to a break from this triangle.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.