Long term pattern, symmetrical triangle for continuation of bullish pattern still in tact. However, short term there has been 2 bearish triangles forming, one which has brought it down, and another which may cause it to drop more.
If it does drop, expect prices as the next Fib level of $182 ish, If it breaks the pattern, and returns bullish, I believe we can see prices around previous resistance levels around $230. 50% Fibonacci level holds at around $208 ish, and remains unbroken. To confirm upward movement, i'm looking for closes above $210.
Long term, expect upward movement, short term, expect downtime.
If it does drop, expect prices as the next Fib level of $182 ish, If it breaks the pattern, and returns bullish, I believe we can see prices around previous resistance levels around $230. 50% Fibonacci level holds at around $208 ish, and remains unbroken. To confirm upward movement, i'm looking for closes above $210.
Long term, expect upward movement, short term, expect downtime.
Note
Broke resistance downward, still looking for next drop to 182
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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.