In this time frame, the price is still moving in the circuit of an upward trend line and it faced resistance in the range of $1663 and after being rejected, a falling wedge pattern was formed.
Given that it is a continuing pattern. It is possible that the price will continue its upward trend after correction to the range of $1582. But if in this correction it can break the resistance range of its rising trend line downwards, we will see the price drop to the range of 0.5 and 0.618 Fibonacci.
Resistance range: 1663-1707-1772
Support range: 1582-1532-1492
Given that it is a continuing pattern. It is possible that the price will continue its upward trend after correction to the range of $1582. But if in this correction it can break the resistance range of its rising trend line downwards, we will see the price drop to the range of 0.5 and 0.618 Fibonacci.
Resistance range: 1663-1707-1772
Support range: 1582-1532-1492
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