Diamond Top Formation + Falling Wedge Pattern
Updated
Diamond Top Formation: The price action has created a diamond-shaped pattern which is traditionally considered a bearish reversal pattern after an uptrend. This suggests potential for a reversal if the price breaks down from the pattern.
Falling Wedge Pattern: The price is consolidating within a falling wedge, which could signal that the downward pressure is diminishing. Traders would monitor for a breakout above the upper trendline of the wedge as a potential buy signal.
Falling Wedge Pattern: The price is consolidating within a falling wedge, which could signal that the downward pressure is diminishing. Traders would monitor for a breakout above the upper trendline of the wedge as a potential buy signal.
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