We have a Double Top Pattern like that of March & April 2018
More of what was envisaged that will happen after the uptrend channel, from this July, 03 chart:
Also, take a look at how the diagonal trend line has been rejecting the upside movement in March,April and perhaps this month.
If we fail to get $8k price, then the bulls will lose this battle again, and we may be force to go down one more time.
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Double Top Got Cancelled:
BULLS doing a wonderful job, they just rejected the Double Top pattern a little below the neckline.
Now we have a bullish rectangle pattern,this may push us close to the $7500-$7600 resistance price once again.
If volume is strong enough we can break it to the upside this time around.
Technically speaking, the ranging price difference between the support and the resistance determines a bullish rectangle target, and in this case if bullish rectangle breaks out and we get a confirmed pattern we looking at $7817-$7863.
BULLS doing a wonderful job, they just rejected the Double Top pattern a little below the neckline.
Now we have a bullish rectangle pattern,this may push us close to the $7500-$7600 resistance price once again.
If volume is strong enough we can break it to the upside this time around.
Technically speaking, the ranging price difference between the support and the resistance determines a bullish rectangle target, and in this case if bullish rectangle breaks out and we get a confirmed pattern we looking at $7817-$7863.