The $29,000 to $31,000 area has provided good support for 2021.
Twice Harmonic patterns (Shark and Deep Crab Patterns) have reversed trend around these levels on a daily basis,
Now we have a Bat pattern, albeit on a 5 hour basis
Is this enough to reverse the trend in place since mid June ?
Perhaps but I'd like to see a bottom in first which is why my entry level is not a current levels.
To be fair Deep Crab patterns (rose colored) can overextend to the $25,000 area.
Bottom line: This is a support area worth watching, bolstered by my bottom window propriety indicator, which appears in a reversal zone and has had a reasonable success rate.
As always do your own due diligence, trade within your means and accept losses as part of your trading education
(Note this is a daily chart and there may be a lot of range volatility in each bar.)
S.
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An update
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Target 1 hit