#MyTradingStyle 1. General Direction:
There is a clear downward trend that started from the peak of 2.3370.
The decline continued with several consecutive red candles.
A local low was recorded at 2.1417.
2. Attempt to Bounce:
After reaching the low of 2.1417, green candles appeared indicating an attempt at a bullish bounce.
The price is currently at 2.1852.
3. Important Points in the Picture:
Highest Recorded Price: 2.3370
Lowest Recorded Price: 2.1417
Last Recorded Price: 2.1852
There is a possibility of forming a double bottom pattern if the price returns to test the 2.14 area and does not break it.
4. What Does This Mean for the Speculator or Investor?
If the bounce continues and prices rise above 2.22 - 2.26, there may be confirmation of a trend reversal.
However, if the price fails to break through nearby resistance levels (2.2179), we may return to test the previous low.