A nice diamond in the “sweet zone” with a break needed
As of Tuesday morning we’ve got a fresh diamond in 1-hour & 4-hour timeframes. Earlier today the necessary break of a top right-hand side of this diamond has happened. That is why a rising wedge “sweet zone” scenario is so far being played out here rather than a right triangle one from 51K level. If the price fails to get back to either 50K or 51K and shows confidence above the resistance level of 52800 than the 2nd scenario will take place with a target @57200 (the height of a right triangle from spin low of 43900 of the 19th of August).