On the daily chart, we see that the ascending triangle is almost complete and the market needs to decide where to move.
At the beginning of the triangle, we see that a double top has formed, and only now the price has tested this resistance level.
There are two scenarios for the development of price action:
First, the price will break up and continue to rise.
Secondly, the price will not be able to find support on the bullish trend line, break it down and continue the downward movement until a stronger support zone is reached.
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Write your opinion about it in the comments. I would like to discuss this with anyone.
This is NOT a FINANCIAL ADVICE. This is just my point of view on the current situation.
At the beginning of the triangle, we see that a double top has formed, and only now the price has tested this resistance level.
There are two scenarios for the development of price action:
First, the price will break up and continue to rise.
Secondly, the price will not be able to find support on the bullish trend line, break it down and continue the downward movement until a stronger support zone is reached.
If you like ideas like this, please like and subscribe to this channel so as not to miss another technical analysis .
Write your opinion about it in the comments. I would like to discuss this with anyone.
This is NOT a FINANCIAL ADVICE. This is just my point of view on the current situation.