In my opinion we have not ended yet the traditional market cycle pattern. In general after the market finishes the cycle there is a mid to long term consolidation time. This is a potential bull trap since the head and shoulders formation.
There is a downtrend formation but the RSI is oversold and the candles have repeatedly fallen below the lower bollinger bands. I think there will be another 5%-7% rise after the head and shoulders pattern forms and we return 15%-20 bellow current levels (back to fibonacci level)
There is a downtrend formation but the RSI is oversold and the candles have repeatedly fallen below the lower bollinger bands. I think there will be another 5%-7% rise after the head and shoulders pattern forms and we return 15%-20 bellow current levels (back to fibonacci level)
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