📊 Pattern Analysis
1. Rounded Top (Bearish Phase)
Timeframe: Roughly June 8–14
Shape: Large rounded top (highlighted in blue)
Interpretation: This typically signals exhaustion in bullish momentum, which was followed by a drop in price.
Price Reaction: Significant decline after the peak near $2,900.
2. Sideways Range/Consolidation
Timeframe: June 16–21
Highlighted Box: Orange rectangle
Interpretation: A period of indecision before the next move, eventually leading to a breakdown.
3. Rounded Bottom (Bullish Reversal)
Timeframe: June 21–25
Shape: Cup-like formation highlighted in yellow
Interpretation: Suggests potential bullish reversal. The price bounced from the support zone (green band near $2,200).
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🔍 Key Levels
Level Type Price Range Notes
Support $2,200–$2,250 Historical buy zone (green shaded area)
Resistance ~$2,900 Previous high and key psychological level
Target ~$2,700 Highlighted with label "Target"
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🔄 Price Action & Prediction
The chart suggests a bullish projection with a zigzag-style recovery:
Expected minor retracement around $2,500–$2,550
Gradual climb toward $2,700
Final leg up marked as the “Target”
This forecast is visualized with a dotted blue path showing higher lows and higher highs—a classic bullish structure.
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⚠ Risk Considerations
Rejection at $2,500–$2,550: May delay the bullish push.
Break below $2,300: Would invalidate the rounded bottom setup and suggest bearish continuation.
Macro Events: The presence of calendar icons (likely U.S. economic data) can cause volatility.