I think we are seeing the start of an ascending triangle that will have a breakout upwards. Notice the doji candle that formed right after the wick up to test the dynamic trendline. The black dashed lines are just guesses we will need another push up and back down to truly get an idea of how the triangle looks.
Note
I think we either see this play out over 25-30 bars or 60 bars.Note
So far looks like this analysis is still valid. Note
No breakout when predicted but still think that top line holds some importance. Acting as a supportNote
The original Doji candle was a good sign of the continuation.
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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.