Good morning. The inverse head and shoulders pattern is almost formed. We need to break above the neckline at around $11560 with good volume (better to be around 75K) and close above the neckline. That would be a good buying signal. My charts time is UTC, so still 8 hours in the day.
I have also corrected the Elliot waves after Alexander (www.tradingview.com/...u/Alexander_Nikitin/), corrected some misconceptions about the rules. You can see that the current wave is wave C. If it breaks above the high of wave A, it would also be a bullish signal.
On the other hand, Wave C is forming ascending wedge which is a bearish signal, and the volume is still low for a break above the neckline.
Generally, I think there is more confluence marking an increase in the price compared to the last few days.
I have also corrected the Elliot waves after Alexander (www.tradingview.com/...u/Alexander_Nikitin/), corrected some misconceptions about the rules. You can see that the current wave is wave C. If it breaks above the high of wave A, it would also be a bullish signal.
On the other hand, Wave C is forming ascending wedge which is a bearish signal, and the volume is still low for a break above the neckline.
Generally, I think there is more confluence marking an increase in the price compared to the last few days.