Those are the resistance areas formed by Fibonacci retracement, psychological prices, pivot points on large TF's and ichimoku lines.
While bearish on the short term, there is a bullish on the long term bias, expecting a future break to higher (out of chart) prices after going to 9,200$ (the lower part of the triangle.
8,500$ would invalidate the hypothesis and consolidate a bearish trend on the long term.
While bearish on the short term, there is a bullish on the long term bias, expecting a future break to higher (out of chart) prices after going to 9,200$ (the lower part of the triangle.
8,500$ would invalidate the hypothesis and consolidate a bearish trend on the long term.