The price has fallen after breaking the blue channel & We are now in a channel. The purple dynamic support line and on-chain support (CVDD) are strong supports. (It should be noted that the on-chain support line like this dynamically moves upwards over time.)
After breaking the trend line and pulling back to it and forming a double top, we will start a downward trend. The targets are clear
If the support of $1,675 is broken, the price will move towards the target of $1,440. In the long-term view, a downward pattern is observed (rising wedge pattern). If the support of 1440 is broken, this pattern can be considered valid. (The target of $700 is not far from expected) All analysis is long term
In the long-term time frame, we are in the bullish channel. We see the bearish Rising Wedge pattern in 1 day time. There is a possibility of falling to 715B $.
The support index lost $3.3. But static support is $2.96 and dynamic support is #2. The negative divergence caused the price to fall, but now we are seeing a positive divergence as it approaches the $2.7 support. We should wait and see if the price will be supported by this strong downward momentum or not?
I think the price of oil will soon break the support of $93-97. The reason is that the dollar index is bullish. ($84-90 supports will act as a pullback)