We have a Double Top Pattern like that of March & April 2018

Updated

More of what was envisaged that will happen after the uptrend channel, from this July, 03 chart:

is about playing out, time to pay close attention to the market as this may be the beginning of another downtrend.

Also, take a look at how the diagonal trend line has been rejecting the upside movement in March,April and perhaps this month.

If we fail to get 8k price, then the bulls will lose this battle again, and we may be force to go down one more time.

Note

Double Top Got Cancelled:

BULLS doing a wonderful job, they just rejected the Double Top pattern a little below the neckline.
Now we have a bullish rectangle pattern,this may push us close to the $7500-$7600 resistance price once again.

If volume is strong enough we can break it to the upside this time around.

Technically speaking, the ranging price difference between the support and the resistance determines a bullish rectangle target, and in this case if bullish rectangle breaks out and we get a confirmed pattern we looking at $7817-$7863.

thegoodsamm

Also on:

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.