is forming a cypher pattern signaling an upcoming drop in price. There are 2 cases here 1. price will go down according to pattern 1. 2. the price will go up to form the case of the cypher 2 pattern. Let's take a look at the weekly frame: The price is still showing signs of going up. so I think case 2 will happen.
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.