Bounced from the ascending trendline and confirmed it by several 4hrs candles.
We did close a 1D candle below the line, but considering its shape (reversal) with a triple bottom on the same level I was expecting a bounce. However, not this big.
Another pattern made by the price is a descending triangle, where we're having LHs & a flat lower trendline.
Sellers being more aggressive than buyers.
Most of the time this is a continuation pattern (of short in our case), on the other hand an upwards breakout could occur.
We did close a 1D candle below the line, but considering its shape (reversal) with a triple bottom on the same level I was expecting a bounce. However, not this big.
Another pattern made by the price is a descending triangle, where we're having LHs & a flat lower trendline.
Sellers being more aggressive than buyers.
Most of the time this is a continuation pattern (of short in our case), on the other hand an upwards breakout could occur.