Might be the creation of an inverted Head & Shoulders pattern
It has also reached a key level of resistance.
The head was a liquidity grab (fakeout) before going down.
And here on the 5min timeframe, there is another H&S forming:
The head was a liquidity grab (fakeout) before going down.
And here on the 5min timeframe, there is another H&S forming:
Disclaimer
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.
Disclaimer
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.