Watching for pattern

May 27, 2021

Morning folks,

So, price keeps flirting in our range and we still consider it as accumulation moment for long-term investments. We treat 20-24K area as vital for long term trend. So, until price stands above it long-term bullish trend is valid.

In shorter-term market could spend long time at current levels as it needs to habit to new reality. But it is not the problem to watch for the patterns. As bearish momentum was strong, we still suggest that the rest of it could push price lower. But this push might be of different strength. Thus, patterns are also could be different.

It is a freak a bit to consider two pattern on the same chart, but... We suggest that it might be a kind of H&S pattern if downside push will be not as strong. Or butterfly "Buy" with new lows around 26K area. Both of these patterns are bullish reversal. Currently price stands not in directional move, as it is too wobbling and choppy. This is "chaotic" fluctuations, retracement-kind.