Looking at the chart, we can notice that the price has been moving within a range for a few days which, in its primary phase, is preceded by a bearish momentum, leading to the formation of a bearish rectangle pattern, which should end with a break down
It is important to note that in minor timeframes it is at an oversold level, so when touching the support, upward reaction movements before falling are very likely in the short term.
It is important to note that in minor timeframes it is at an oversold level, so when touching the support, upward reaction movements before falling are very likely in the short term.
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.
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.