Simply a Retest. Nothing to worry about.
Updated
In case you were unaware, or currently have trouble remembering at times.
There is always a retest. Never Fomo in the middle of a price run up.
Calmy look at the chart, any significant pattern break out will require a minimum of one retest. Larger the pattern, the more retests it requires.
What counts as a retest area is usually the MIDDLE of its channel, or the TOP of the previous High point/Breakout. Whichever finds the most support.
There is always a retest. Never Fomo in the middle of a price run up.
Calmy look at the chart, any significant pattern break out will require a minimum of one retest. Larger the pattern, the more retests it requires.
What counts as a retest area is usually the MIDDLE of its channel, or the TOP of the previous High point/Breakout. Whichever finds the most support.
Note
On the one minute chart, for a better view.Note
Something to be aware of. I always at first look at charts in a breakout/retest point of view.
Currently, all this Macro action is nothing more than a retest before another jump to the upside.
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This can also be viewed as a breakout from a lower channel onto a higher channel.In this scenario, Further down in the year, after the breakout pump to the upside. We will need to see a crash back down in order to retest this zone.
I actually see the previous crash from its ATH as the come down after the breakout and we are currently on the retest. Very Bullish, either way.
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Note
Update Still relevant
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Update, Triangle still playing out.Nothing new, nothing scary.
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