📉 Model appears:
Symmetrical Triangle — price is moving close to the intersection point between the downward trendline (resistance) and the upward trendline (support).
🔍 Detailed analysis:
- Short-term trend: Slight decline
- Price continues to form lower highs
- Current support area: The lower trendline is holding strong
- Near resistance: The upper trendline (is blocking the upward movement)
- MA line: Price is below the short-term MA lines → negative signal in the short term
📊 Predicted scenarios:
1. Breakdown (higher probability if volume increases):
- If the lower trendline is broken → may drop sharply to the next support area:
- Target: $104,000 – $102,500
2. Rebound (if there is short-term supportive news):
- Price may test the upper resistance line again.
- If breakout → trend reversal
- If rejected → continue to decline
⚠️ Recommendations:
- Do not go long too early when the price has not clearly broken resistance
- If shorting, wait for confirmation of the breakdown of the support trendline
- Set stop loss carefully due to the convergence area being prone to strong volatility
