Yesterday's post candle closed below 2k and pattern average however critical seemed to form closer to 1990 which prevented further ST correction.
Because we remained under pattern average the subsequent candle then had to flip trendline vs maintain, providing less momentum going into the next breakout zone.
This can be shown in the next three green candles where highs and lows were contained within upper pattern but initial closes remained below/close to flip close.
Lower pattern line was moved up to signify average low rather than the outlier or extreme; current price will need to hold (close) within or above these two lower lines.
As consolidation continues we'll eventually reaching the breaking point which is conveniently positioned with critical as price average.
This could go either way although based on a few other factors I still lean towards bearish PA.
Remember that even if major coins like $BTC and $ETH drop it doesn't necessarily mean alts will follow.
Because we remained under pattern average the subsequent candle then had to flip trendline vs maintain, providing less momentum going into the next breakout zone.
This can be shown in the next three green candles where highs and lows were contained within upper pattern but initial closes remained below/close to flip close.
Lower pattern line was moved up to signify average low rather than the outlier or extreme; current price will need to hold (close) within or above these two lower lines.
As consolidation continues we'll eventually reaching the breaking point which is conveniently positioned with critical as price average.
This could go either way although based on a few other factors I still lean towards bearish PA.
Remember that even if major coins like $BTC and $ETH drop it doesn't necessarily mean alts will follow.
