Rising Wedge appearing withing 5th Wave
Hello fellow traders
As you may see in the chart the price has formed a rising wedge.
The patterns likelihood of validity is fortified by its occurrence within the 5th wave.
Other indicators of making a breakdown more probable are (ordered descendingly by their weight) :
The patterns projected target is found around 45k
As you may see in the chart the price has formed a rising wedge.
The patterns likelihood of validity is fortified by its occurrence within the 5th wave.
Other indicators of making a breakdown more probable are (ordered descendingly by their weight) :
- the bearish divergence in the RSI (lower highs in it vs higher highs in price)
- the decline in volume within the pattern, and especially the volume of the candles which are forming the higher highs
- the inverted parabolic upper resistance (light blue curve)
- the state of the stoch RSI
The patterns projected target is found around 45k
Catatan
The analysis seems to hold. No sign of a reversal so far.Catatan
Catatan
Quite a well matching fractal that seems to be in play here.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.