There is a massive ascending wedge forming on the weekly timeframe, which is an overall bearish pattern. Not to mention the double top that just recently formed. Also, there seems to be a bearish Exaggerated Divergence, which happens when the oscillator makes lower highs and the price creates equals highs.
Whenever price touches a support line or resistance line, it gets weaker. I noticed the price, relatively, is frequently testing the bottom support line of the ascending wedge.
Based on the ascending wedge, the divergence, and the extremely bearish double top, I believe we will head downwards for some time, consolidating in the labeled supports for some time before continuing to the upside.
Whenever price touches a support line or resistance line, it gets weaker. I noticed the price, relatively, is frequently testing the bottom support line of the ascending wedge.
Based on the ascending wedge, the divergence, and the extremely bearish double top, I believe we will head downwards for some time, consolidating in the labeled supports for some time before continuing to the upside.