Classic Ascending Wedge Pattern.
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With the higher lows forming, the resistance remaining very flat, and the declining volume signifying indecisiveness, this is an ascending wedge pattern. The price action can play out either way with a break out above or below the triangle. Although the higher lows may seem bullish, the risk is still too high to speculate in the bullish direction (in the short term).
To determine when the breakout has occurred and the direction of the breakout, look for an increase in volume and an hourly candle close above or below the wedge.
Since this wedge is only observable on the hourly timeframe the correction will not likely be large but rather a temporary correction before completing wave 5 on the weekly timeframe.
To determine when the breakout has occurred and the direction of the breakout, look for an increase in volume and an hourly candle close above or below the wedge.
Since this wedge is only observable on the hourly timeframe the correction will not likely be large but rather a temporary correction before completing wave 5 on the weekly timeframe.
註釋
Candle currently peaking above the wedge. Need close and increase in volume to confirm交易進行
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The 5% estimate probably won't happen quickly because of the ATH resistance at 64k註釋
63k!註釋
64k Noice!. There will likely be a retest of the ATH. Not sure if it will break through the first time. More analysis is needed at that level
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