Decision time approaching, hitting daily resistance on 4hr time frame,
A potential head and shoulder pattern could be playing out here for a retrace to the .50 or the .618 golden fib lines, testing at least the previous resistance turned support.
We can also see a clear bearish divergence (HH on price and LH on RSI Level) 240 time frame. If this is the local top, then the probability of us retracing to the fib lines are on the cards creating us a lower high in the bull trend.
This will be very healthy in the up trend!
A potential head and shoulder pattern could be playing out here for a retrace to the .50 or the .618 golden fib lines, testing at least the previous resistance turned support.
We can also see a clear bearish divergence (HH on price and LH on RSI Level) 240 time frame. If this is the local top, then the probability of us retracing to the fib lines are on the cards creating us a lower high in the bull trend.
This will be very healthy in the up trend!