Please support this idea with LIKE if you find it useful.
Price forming a Descending Triangle. Currently we testing the Ichi Cloud resistance zone, and if there is a confirmed rejection we can retest the Horizontal Support Zone.
If pattern will continue forming we can initiate a short position in case there is a confirmed rejection of the Resistance Trendline.
Also the breakout of the Horizontal Support Zone will be a confirmation for the pattern and we can initiate a short position.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Price forming a Descending Triangle. Currently we testing the Ichi Cloud resistance zone, and if there is a confirmed rejection we can retest the Horizontal Support Zone.
If pattern will continue forming we can initiate a short position in case there is a confirmed rejection of the Resistance Trendline.
Also the breakout of the Horizontal Support Zone will be a confirmation for the pattern and we can initiate a short position.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.