If support is now breaking through and the price is fixing below it, then all this 3-week flat acts as a canvas of the downward flag - the first target is -11% This trading idea published 2.5 weeks ago is being implemented.
If, nevertheless, we hold this level and continue to continue lateral movement, then it is very possible to start the movement inside the canvas between local . Potential + 11%.
Then you need to look at the situation, if we break through the resistance of this 3-week flat and the price fixes above it, then it is more likely to make + 11% (together + 22%) in the zone of strong resistance (former support for the triangle).
I also ask you to pay attention to the downtrend of the same triangle, it can also hinder the price, and if it is overcome, it can be a good launching pad for growth. How will this mean that the downtrend angle dictated by the past triangle formation is broken.
Work according to the short scenario to the level of 7 thousand. Further from the reaction of the level.
It is very important where the price will be fixed after the impulse.
As we can see, the zones work out perfectly. You can see the way out of the price from the zone of $ 7000-7600 to the important area of the downtrend that I designated in advance. There is a trend puncture, no more. The only important thing is fixing the price. If there is a consolidation above the downtrend, then this will mean a change in the downtrend. And at the moment we are in a general downtrend. All options for working from different situations, I described in great detail in several trading ideas and videos.