I can see that the price has broken the green trend line forming a reversal and heading in an uptrend.
After the reversal the price creates a new ascending channel respecting the purple trend lines as we can see that the price has interacted with the trend line by golden ellipses.
In the 4 hourly time frame i can see a double bottom pattern forming indicating that the price would increase, potentially breaking the resistance that it has tested twice so far whilst respecting the uptrend.
I expect the price to increase until the intersection between the black and pink trend line that has been drawn a while ago
After the reversal the price creates a new ascending channel respecting the purple trend lines as we can see that the price has interacted with the trend line by golden ellipses.
In the 4 hourly time frame i can see a double bottom pattern forming indicating that the price would increase, potentially breaking the resistance that it has tested twice so far whilst respecting the uptrend.
I expect the price to increase until the intersection between the black and pink trend line that has been drawn a while ago
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.
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.