Bearish Flag - Pennant

6 Ağu 2021

• Chart Timeline: 2 HRS | I usually do a 1 hour timeline but I used the 2 hours this time because it's much more cleaner.
  
  
• RSI: Mid to below-mid level | Meaning its still bearish/downtrend
  
  
• MACD: Line if about to cross and could continue downtrend
  
  
• Support Level: My strong support level is about $2. There's 3 level of lower support that I looked at. The $2, $1.70 and $1.50, but wasn't hoping for a dollar. My strong support lows of low is $2.
  
  
  
• Conclusion: Chart giving me bearish pennant + RSI still downtrend + MACD about to cross + existing support level from previous lower low.
  
  

This is on a technical analysis standpoint. No fundamental involve.

11 Ağu 2021

Not

Update: Symmetrical triangle broken. Turned out to be rectangle instead. Still bearish