The NOT network is currently navigating a tricky situation with two triangles forming in its recent price action. This creates some uncertainty for traders as there are two potential paths that price could take.
What are the possibilities? 🤔
* Deeper correction: one scenario is that the price may continue its downward correction, potentially breaking the previous low. This would be a bearish sign, but it could also create a buying opportunity for those who believe in the long-term potential of NOT.
* Upward breakout: another scenario is that the price may break upward from the current triangular formation. This would be a bullish signal indicating that the market is ready to resume its upward trend.
What is the key takeaway?
The market is likely to remain volatile until it breaks out of this triangular pattern. It's important to stay patient and wait for a clear signal before making any trading decisions.
One thing is certain: the market will become fully bullish once it overcomes the confirmation level. This will be an important milestone for NOT, indicating a strong shift in market sentiment.
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