My overall view on this one is negative.
Certainly, I might be wrong, but to test out the previous lows of around $30 would be ideal in my scenario.
But then again, the market doesn't care what I want.
In the mean time, I think we might be stuck in this formation for a while. Now it does look like a symmetrical triangle, but in it needs to move around within the boundaries of it in order to confirm it. That's why it's just an idea.
In my opinion, the break of this formation could potentially confirm a longer term direction.
Be careful and keep an eye on the price action!
Certainly, I might be wrong, but to test out the previous lows of around $30 would be ideal in my scenario.
But then again, the market doesn't care what I want.
In the mean time, I think we might be stuck in this formation for a while. Now it does look like a symmetrical triangle, but in it needs to move around within the boundaries of it in order to confirm it. That's why it's just an idea.
In my opinion, the break of this formation could potentially confirm a longer term direction.
Be careful and keep an eye on the price action!
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