inside a rising channel inside a larger descending channel
We are currently testing the top trendline of the rising channel here on the 4hr chart(in green). On the 1 day chart there's still a possibility it is the flag of a bear flag. Probability is higher that rising wedge will break down but only slightly in this current scenario. We could also be seeing an inverted bart pattern occurring here on the daily bearflag pattern My guess is the price will breakdown from the rising channel and retest the bottom trendline of the descending channel(in purple). Of course it could also keep rising here and break outta both so its wise to await confirmation either way.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.