Many of the analysts considered the last pattern as a pennant instead of a channel. The disadvantage of considering it as pennant was that buyers were trapped when it looked to have broken upside. But, in true nature ( given by D wave system) it was a channel and we were able to sell right from upper boundary.
Now this being a bearish channel and signs of breakdown, we expect a further crash in compliance with our original idea from ATH zone.
This is not a financial advice.
Now this being a bearish channel and signs of breakdown, we expect a further crash in compliance with our original idea from ATH zone.
This is not a financial advice.
Note
A correction towards 65k zone being reported by the system. price now 63914Note
sorry type mistake. a correction towards 67kNote
The analysts who considered the pattern as a pennant must have confirmed the breakdown of the pennant. A correction or retest comes here and then a continuation of the breakdown.
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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.