In this time frame, the price has faced a strong resistance in the range of $1218, and in the event of a sharp drop, it has faced support in the range of $1156, and it is possible to form a double bottom pattern.
which is a kind of ascending pattern. This pattern becomes valid when the price stabilizes in the range of $1179. In this case, we will see the price rise up to the range of 0.5 and 0.618 Fibonacci. Otherwise, if the price can break the support range of $1156, we will see the price fall to the range of $1127.
Support range: 1156-1142-1127
Resistance range: 1180-1187-1194
which is a kind of ascending pattern. This pattern becomes valid when the price stabilizes in the range of $1179. In this case, we will see the price rise up to the range of 0.5 and 0.618 Fibonacci. Otherwise, if the price can break the support range of $1156, we will see the price fall to the range of $1127.
Support range: 1156-1142-1127
Resistance range: 1180-1187-1194