Looks like an Ending Diagonal Triangle is forming.
If the pattern is validated (We don't exit the triangle and we hit point 4 before reversing again lower than 5870), then we may go down for a last bottom.
Keep in mind that we have 2 strong support zones, orange and red
Point 4 : 6.6k ~ 02/19
Point 5 : 2.6k ~ 02/26
ps: I'm not a Pro, I just analyze time to time
If the pattern is validated (We don't exit the triangle and we hit point 4 before reversing again lower than 5870), then we may go down for a last bottom.
Keep in mind that we have 2 strong support zones, orange and red
Point 4 : 6.6k ~ 02/19
Point 5 : 2.6k ~ 02/26
ps: I'm not a Pro, I just analyze time to time
Note
Model invalidated. Even though, we can see defiantly that there will be another retrace. Stay tuned
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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.