In this time frame, the price in the range of $1534 has faced strong support and formed a descending triangle pattern .which is a kind of bullish pattern and we expect the price to rise to the 0.618 and 0.786 Fibonacci ranges. Only if the price can cross the support range of $1534 with high momentum, the bearish scenario will be activated and the price will fall to the range of $1476.
Resistance range: 1578-1604-1625
Support range: 1534-1517-1476
Resistance range: 1578-1604-1625
Support range: 1534-1517-1476
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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.