Pennant pattern
Hello!
I ask you to immediately take into account, this is only my own opinion and what it is based on:
The level of support at 0.618 broke, after which we fulfilled the retest and went down, we conclude that the breakdown is true. We think that within the next week the price can go down to the support level of 0.768. Also on the chart, as we see a figure was formed - Pennant pattern, this figure is a continuation of the trend (in this case, ascending). Also, when the price approaches the lower boundaries of the zone, an increase in the volume of trades is accompanied, but the growth is decaying, by the end of the formation of the figure, the volumes are minimal. In case of breakdown of the boundary of a triangle, it should also be accompanied by high volumes of trades or by their increase.
Expect - the price in the area of 433, the subsequent breakdown of the triangle boundary and the subsequent uptrend.
I ask you to immediately take into account, this is only my own opinion and what it is based on:
The level of support at 0.618 broke, after which we fulfilled the retest and went down, we conclude that the breakdown is true. We think that within the next week the price can go down to the support level of 0.768. Also on the chart, as we see a figure was formed - Pennant pattern, this figure is a continuation of the trend (in this case, ascending). Also, when the price approaches the lower boundaries of the zone, an increase in the volume of trades is accompanied, but the growth is decaying, by the end of the formation of the figure, the volumes are minimal. In case of breakdown of the boundary of a triangle, it should also be accompanied by high volumes of trades or by their increase.
Expect - the price in the area of 433, the subsequent breakdown of the triangle boundary and the subsequent uptrend.
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