Currently, the market is forming a Head and Shoulders pattern, which suggests a potential reversal. On the 1-hour timeframe, a Cup and Handle formation has been identified, but the breakout isn’t strong enough yet, and a retest hasn’t occurred. However, volume confirmation on the 4-hour chart signals that the breakout may be imminent.
On the 15-minute chart, we...
The price is trending upward within a channel. In the short term, the price has broken through the support of a "head and shoulders" chart pattern (indicated by three circles for the head and shoulders). We need to wait for a retest and rejection towards the trendline of the channel. If we observe high volume, indicating buyer entry, and a reversal chart pattern...
