Hello Dear friends
As you can see from the chart, when the price moved upwards from $ 8888, it happened with a lot of power in a short period of time, which caused the failure of the sub-trend line as well as the initial pivot.
This was the first sign of a change in the price phase
Vendors have then struggled to keep prices close to 61 percent in the near future.
At the same time, we faced a sharp drop in market volume, and the best time for whales was to bring the bear trap to 61 percent with a sudden drop in price from 50 percent Fibonacci to liquidate newcomers and then start the upward trend.
With these interpretations, an AB = CD pattern in the formation state, the target of which can be 9850, which is both about 61% Fibonacci and strong resistance at that point, as well as the APP related to the pattern.
My friends, I would be happy for you to comment on this analysis.
As you can see from the chart, when the price moved upwards from $ 8888, it happened with a lot of power in a short period of time, which caused the failure of the sub-trend line as well as the initial pivot.
This was the first sign of a change in the price phase
Vendors have then struggled to keep prices close to 61 percent in the near future.
At the same time, we faced a sharp drop in market volume, and the best time for whales was to bring the bear trap to 61 percent with a sudden drop in price from 50 percent Fibonacci to liquidate newcomers and then start the upward trend.
With these interpretations, an AB = CD pattern in the formation state, the target of which can be 9850, which is both about 61% Fibonacci and strong resistance at that point, as well as the APP related to the pattern.
My friends, I would be happy for you to comment on this analysis.
