The pivot lows (blue bulls-eyes) seem to be following a curve that is now trending upward. The pivot highs (green and orange bulls-eyes) on the other hand are oscillating in a zig zag pattern. The lower band of the pivot highs (orange) is starting to follow a curve similar to the pivot lows (blue), while the upper band (green) has been linear in its downtrend so far. I believe the pivot lows (blue) began a trend upwards, then the lower band of pivot highs (orange) followed, and the higher band of pivot highs (green) will start once a new higher band pivot (green) is formed.
Note
I think the next pivot low is in, so now hopefully a rise to the top for a new green pivot high. Plenty of resistance along thew away so it shouldn't be smooth. If it comes back to the bottom near $9500 before reaching the top around $12000 this pattern is toast.
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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.