TCS on 15min Timeframe, reflecting a beautiful price action.
It was in an uptrend for a while forming a double top eyeing for a reversal. The point where it formed a second top would have been a great opportunity to short. But who missed at that point including me, now there is another eye-opener.
Forming a strong double top, it reversed from there breaking...
The counter has topped out in the near-term charts.
It formed a significant high of 1.14800 and unable to hold on to the gains it slid down to the support of 1.13582.
It then made an effort to take down the previous high but a head and shoulder pattern has formed.
So, the entire structure could be attributed to lower high formation in the making.
If bitcoin has to break upwards towards the 9,500 $ mark, it should happen within the next 8 working days....
If these current levels breaks downwards, then it will take support at 5765 $. Very crucial level.
SREIInfrastructure has bearish formation here with resistance from the ICHIMOKU cloud on top as well as a fall below the EMA(200). MACD signal is also bearish. An overall bearish movement with lower high's and lower low's.