In this time frame, the price faced strong support after a Sharpie drop in the range of $1080 and entered the correction phase and formed a bearish pennant pattern.
This data is a kind of continuing pattern and by breaking the support level, the pattern has gained validity and it is possible that the price will continue to fall to the range of $902. The trend will be changed only if a large volume of purchases enters the market and the price cannot cross its support limits. In this case, we will see the price rise to the range of 0.5 and 0.618 Fibonacci.
Support range: 902-1006-1084
Resistance range: 1310-1380-1451
This data is a kind of continuing pattern and by breaking the support level, the pattern has gained validity and it is possible that the price will continue to fall to the range of $902. The trend will be changed only if a large volume of purchases enters the market and the price cannot cross its support limits. In this case, we will see the price rise to the range of 0.5 and 0.618 Fibonacci.
Support range: 902-1006-1084
Resistance range: 1310-1380-1451
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