In the previous analysis, I recognized the formation of a head and shoulders pattern where the red line is the neck line. If you enlarge the chart you will see that the price as I assumed passed the neck line of head and shoulders and reached TP1 and TP2 of my previous analysis.
At this point, a retest is necessary before the price drops further.
Therefore, I believe that the triangle formed on the 1h chart will lead to a short-term price increase to about 37000-38000 before the projected decline to 29000-30000.
Keep in mind that since this is crypto and nothing is so simple and obvious, it can happen that the price is pumped over 38000 before falling to 29000-30000
Disclamer: This is not financial advice.
You trade at your own risk.
At this point, a retest is necessary before the price drops further.
Therefore, I believe that the triangle formed on the 1h chart will lead to a short-term price increase to about 37000-38000 before the projected decline to 29000-30000.
Keep in mind that since this is crypto and nothing is so simple and obvious, it can happen that the price is pumped over 38000 before falling to 29000-30000
Disclamer: This is not financial advice.
You trade at your own risk.
