Hello dear friends
On the daily time frame, the positive divergence of the RSI with the downtrend line has created a bearish wedge pattern for us. Until the $5.584 range is fully consumed, the bullish outlook is weak.
But if the range of $2.618 is maintained, we can hope for the completion of the wedge pattern.
On lower timeframes, the drawn bearish scenario is very likely. However, if the range of $2.618 is maintained, the possibility of a bullish scenario will also be strengthened.
We would be happy to hear your comments
On the daily time frame, the positive divergence of the RSI with the downtrend line has created a bearish wedge pattern for us. Until the $5.584 range is fully consumed, the bullish outlook is weak.
But if the range of $2.618 is maintained, we can hope for the completion of the wedge pattern.
On lower timeframes, the drawn bearish scenario is very likely. However, if the range of $2.618 is maintained, the possibility of a bullish scenario will also be strengthened.
We would be happy to hear your comments
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The downtrend line was broken upwards.
Due to the consumption of the $3.526 range, the lower area can be seen, as a result, the probability of a reaction to the $4.952 range is high.
If the $5.584 range is fully consumed, the possibility of seeing higher areas is strengthened.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.