Hi guys,
On the 4-hour chart we can see an uptrend move which has been forming since the 25th of April.
The trend angle is near 30 degrees.
The decreasing volume indicates a consolidation and an ascending triangle is due to break this night.
If the trend follows an uptrend move with a 60-degrees trend angle until $780 support, where the 6th up Fibonacci level support could be located. This following with a correction
should confirm the bump&run pattern, the stop loss would be at the lower support of the uptrend channel where it could break.
Thank you for reading, this is just a potential move, and that analysis would be useful only if the pattern is followed within the next few days.
Have a great week ahead.
On the 4-hour chart we can see an uptrend move which has been forming since the 25th of April.
The trend angle is near 30 degrees.
The decreasing volume indicates a consolidation and an ascending triangle is due to break this night.
If the trend follows an uptrend move with a 60-degrees trend angle until $780 support, where the 6th up Fibonacci level support could be located. This following with a correction
should confirm the bump&run pattern, the stop loss would be at the lower support of the uptrend channel where it could break.
Thank you for reading, this is just a potential move, and that analysis would be useful only if the pattern is followed within the next few days.
Have a great week ahead.