On the Chart we can see a 'triangle' formation. What it tells us about?
As you can see prices fluctuating less and less over time inside the 'triangle'. They have hit support and resistance levels 5 times. For us it means that chart might continue drawing the shape and after that I expect to see the breakout $10749 level plus I used a Fib retracement so I will expect the breakout on $10799 too.
But there is a probability of price break down the support level. In that case we can consider SHORTing.
Please hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas and signals.
Remember this analysis is not a 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
As you can see prices fluctuating less and less over time inside the 'triangle'. They have hit support and resistance levels 5 times. For us it means that chart might continue drawing the shape and after that I expect to see the breakout $10749 level plus I used a Fib retracement so I will expect the breakout on $10799 too.
But there is a probability of price break down the support level. In that case we can consider SHORTing.
Please hit the like button, in case you like this idea and subscribe to the Channel in order not to miss new ideas and signals.
Remember this analysis is not a 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
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