Rising wedge forming for further downward continuation
With a rising wedge formation, a typical continuation pattern is forming and the possibility to see further downward movement at the end of Q4 beginning of Q1 2020 is the most reasonable scenario.
It is clear that the pullback we had to the golden pocket and price rejection at that level opens the downside algos to kick the price lower toward the 1st algo target around 102.564.
1st the wedge lower support trend line needs to be breached lower and taken as resistance and only after that happens a downtrend, continuation is on the run.
Crypto Scanner wave Oscillator is showing heavy bearish pressure on the big TF together with bearish divergence, also VWap is on the negative side and heading lower.
It is clear that the pullback we had to the golden pocket and price rejection at that level opens the downside algos to kick the price lower toward the 1st algo target around 102.564.
1st the wedge lower support trend line needs to be breached lower and taken as resistance and only after that happens a downtrend, continuation is on the run.
Crypto Scanner wave Oscillator is showing heavy bearish pressure on the big TF together with bearish divergence, also VWap is on the negative side and heading lower.