A lovely bearish pennant has just finished forming on the hourly chart. This means that we are in for another leap into the abyss. It looks like the target is around $20700.
This is not financial advice.
This is not financial advice.
Commento:
Hm, it looks like we are dealing with a false breakout.
Commento:
It looks like the formation is evolving into a bearish flag. I expect one leg up directly to the blue line, followed by a decline.
Commento:
It looks like the chart has printed another pennant, which is just being tested from below. I think we are in for another drop, within the next few hours.
Commento:
It's happening!
Commento:
Possible scenario:
Commento:
There is also this scenario:
Commento:
So the first scenario played out. Tilted head and shoulders (an even more bearish version).
Commento:
I mean, it is not H&S yet, but most likely it will be, as there was no retest of the rising wedge on the daily chart.
