Broken megaphone
Usually a megaphone formation is a trend continuation formation. This time, however, it appears to have been invalidated by a sharp downward bounce from the upper edge of the trendline while attempting to break through it in the last, fifth swing.
Given the bearish divergence on the daily and weekly RSI, I believe that we are in for another big drop in the coming days or weeks.
This is not financial advice.
Given the bearish divergence on the daily and weekly RSI, I believe that we are in for another big drop in the coming days or weeks.
This is not financial advice.
Note
The price has touched the lower trend line. Now it will be downhill from there.Note
We also have a nice Head and Shoulders pattern:Note
Note
I hear screams...
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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.