UPDATE

Bullish Shark Completion & Emerging Divergence

Bullish Shark Completion & Emerging Divergence
- Shark Pattern in Play: Following our previous analysis,
has completed the Bullish Shark pattern at the 0.886–1.13 retracement of the 0-X leg. Price action is now reacting around this deeper PRZ, suggesting a potential reversal may be underway.SOLUSD
- DMI Delta Divergence: We’re seeing a bullish divergence between price and the DMI Delta—an early sign that bearish momentum could be fading. This divergence reinforces the likelihood of a bounce from the current levels.
If this divergence is confirmed with a strong bullish candle or surge in volume, it may validate the Shark pattern and open the door for a trend reversal. Keep stops below the 1.13 extension to manage risk, and watch for price targets around the 38.2% or 61.8% retracement of the new leg.
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Related publications
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.