ALICE/USDT, 1H timeframe.
Price travelled from the major resistance zone at the price around 8.5000 down to 6.8000 to form a consolidation area. The price couldn't break above the minor support turned resistance. Bearish pressure took the price down to form a major support at price 4.7000. Since then, price formed a chart pattern named Pennant. A continuous bullish pressure above the resistance trendline will further push the price to the minor resistance zone. A continuous bearish pressure below the minor support zone will push the price down to the major support zone.
Cheers!
Price travelled from the major resistance zone at the price around 8.5000 down to 6.8000 to form a consolidation area. The price couldn't break above the minor support turned resistance. Bearish pressure took the price down to form a major support at price 4.7000. Since then, price formed a chart pattern named Pennant. A continuous bullish pressure above the resistance trendline will further push the price to the minor resistance zone. A continuous bearish pressure below the minor support zone will push the price down to the major support zone.
Cheers!