$CRV Bullish Dragon / Breakout!
Real nice chart here on CRV. We've gotten a break of the downsloping supply line, and a checkback.
The local double bottom would be confirmed at 1.30 and would target a measured move of 4.31, with profit taking at the 1.618 extension on the way.
Typically this move to the top of the range would be considered the sign of strength in wyckoff ranges, and you could expect consolidation prior to breaking above it, which would give you the partial decline, a new level of support to lean on, and statistically favor a breakout there after if the range high is retested.
Now, while it does sound crazy, most of the time these type of charts will eventually fill in that initial wick sell off at their genesis, which sits at about 23$ That would be considered a clean range break if that were to happen, and could run for the next extension level and 100% measured move of the range.
The local double bottom would be confirmed at 1.30 and would target a measured move of 4.31, with profit taking at the 1.618 extension on the way.
Typically this move to the top of the range would be considered the sign of strength in wyckoff ranges, and you could expect consolidation prior to breaking above it, which would give you the partial decline, a new level of support to lean on, and statistically favor a breakout there after if the range high is retested.
Now, while it does sound crazy, most of the time these type of charts will eventually fill in that initial wick sell off at their genesis, which sits at about 23$ That would be considered a clean range break if that were to happen, and could run for the next extension level and 100% measured move of the range.
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