In this time frame, the price after hitting the resistance range of $2960 momentum has fallen and hit the support range of $1700 and after several collisions has not been able to pass this range and the formation of descending triangle pattern which is a two-directional pattern. If the trend line breaks down one side , we will see a rise to the range of 0.5 and 0.618 Fibonacci, and if the support range of $1700 fails, we will see a fall to the $1100 range.
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.