On top of what could be a relief rally or a tentative bull run, a Bearish Dragon Pattern is unfolding, with active OI in Binance rapidly decreasing (indicator pane).
Typical TP is FR 0.786, but if it breaks the channel and re-enters the pennant this time, I'd like to point out the possibility of passing down through it to reach, e.g., 1.272.
The green ark would serve as a support.
The scenario is invalidated if the top of the dragon (approx. 20500 ) is broken.
See the related ideas for details of the scenario, the lines, arcs, etc.
Note
update.
Note
FR 0.786 almost reached.
Note
memo & upadate.
Note
memo & update.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.