Direction: Bullish
Pattern type: Continuation
Important resistance level to break and cruicial support level with nice retest. Potential Falling Wedge pattern but I cant confirm it yet, I'm still not a 100 % sure about that. Volume is diminishing trouhgout the pattern and should expand at the end of the pattern to make a breakout possible and validate the pattern. The more volume at the end of the pattern the bigger the chance of a breakout confirmation. Confirmation would be a close above the upper descending trendline drawn across the highs of the pattern, with above average volume. Target would be the highest point of the falling wedge, so around 0.00000474 +/-. Another bullish sign could be when (if) the EMA50 crosses the EMA200 upwards. If its possible for all the requirements for a breaout to happen around the same period of time i think we can buckle up and wait for the rocket to launch!
Pattern type: Continuation
Important resistance level to break and cruicial support level with nice retest. Potential Falling Wedge pattern but I cant confirm it yet, I'm still not a 100 % sure about that. Volume is diminishing trouhgout the pattern and should expand at the end of the pattern to make a breakout possible and validate the pattern. The more volume at the end of the pattern the bigger the chance of a breakout confirmation. Confirmation would be a close above the upper descending trendline drawn across the highs of the pattern, with above average volume. Target would be the highest point of the falling wedge, so around 0.00000474 +/-. Another bullish sign could be when (if) the EMA50 crosses the EMA200 upwards. If its possible for all the requirements for a breaout to happen around the same period of time i think we can buckle up and wait for the rocket to launch!
- Especially poeple that might disagree, I would love to hear why.
- I'm just a beginning trader so every sort of feedback will be helpfull.
Thanks!