Triangle PatternIf the market breaks below the triangle pattern, it will be a strong indication of further downside momentum. In that case, the price has a clear path toward the (S2) $3,600 level.
Considering the decline from $4,700, the market may take some time to consolidate around the current zone. We could see sideways movement for a couple of days—or even longer. However, if the price breaks below the $4,023 level, it would confirm a strong bearish move with a high probability of further downside.
Be mindful of the " Dissecting Resistance " line. Even if the market breaks out of the triangle pattern to the upside, failing to break and hold above this resistance level could invalidate the bullish breakout and pave the way for a different market structure. A successful break and close above this level could signal the beginning of a gradual recovery. The first major resistance (R1) is around $4,300. If the market sustains above this level, it could extend its rally toward the next key resistance (R4) at $4,700.
The coming week will be crucial. Keep a close eye on the market structure and make your trading decisions wisely.
Remember, making profits is our goal, but protecting our capital should always be the top priority. Stay focused on the market and invest time in learning. Once you've mastered the learning phase, you won't need to walk or run—you'll be ready to fly.
Protect your capital, manage your risk, and trade safely.
