Hi traders,
The dashed line is minor uptrend for now. If the price bounces back from there, it may form a reverse Shoulder Head Shoulder.
If it does not bounces back, Then the horizontal level is also good place to take a position. My advice would be that if you take a position, you need to put your SL at most %2 below or above.
If the formation happen, btc side will probably reach its resistance. So, I expect that the price will not break out that grey area. That is why If I take a position, I am gonna close 75% of it at that area.
To be honest, I didnt like the volume. If the volume does not increase along the right neck, I may skip and wait for new chances.
Manage your risk, my friends.
Stay safe.