Just closed 2 consecutive candles above the ttline of the wedge!
מעודכן
2 consecutive daily closes above the wedge’s top trendline. This hasn’t happened before on this wedge and we’ve been in this wedge since October! Of course this doesn’t confirm a breakout or anything just yet but does increase our probabilities of one…still a chance a fakeout could occur here instead so must remain vigilant. I’m thinking to cool off some stochrsi and other indicators it will probably retest the top trendline before the real breakout so I’m prepared to load up on some alts and a meager portion of bitcoin when it retest the trendline maybe around 37k. Only of course, if the top trendline confirms that it has flipped itself to solidified support upon being retested. There is also a chance that it could breakout without having the mini retest correction, in which case I will add to my bags just slightly higher. Of course, there’s also a good possibility this is a fakeout still. Another 1 to 2 daily candle closes above the trendline should help to confirm it. Although I’m leaning long, until it confirms I can’t slapthe long on this one so it is gonna be listed as neutral. Bes of luck out there. Thanks for reading! *NOT FINANCIAL ADVICE*
הערה
If you press play you will see that just as I predicted, the price action has come down and retested the top trendline with pinpoint accuracy. It is currently holding great wick support. However the support could easily break so there’s no way to know yet whether a breakout from the wedge will be confirmed. I went ahead and picked up minuscule amounts of all my favorite alts, and a tiny bit of btc and eth when the candle body was testing the trendline’s support but was unable to break it. I will only add more once it’s confirmed that it will maintain support which could take a few days.הערה
The top trendline is no longer holding wick support. Now we must instead hope for it to maintain body support. We won’t know whether it will do that until the daily candle close.הערה
Good daily candle close today. Closing above the top trendline which is still currently testing as support. It will probably take another couple 1day candle closes above it before I start getting too excited. For now though, it has retested as suppport like I thought it would.הערה
Big green candle today with nice volume pouring in…we may get our confirmation sooner than we thought.הערה
Sorry been busy……but clearly we have confirmed the breakout . As well as the fulcrum of the trend reversal. Time to finally resume uptrend!!הערה
Don’t get me wrong, there’s still some big resistance to clear but. With the breakout from the wedge having a 54k measured move target I know we will clear those resistances sooner rather than later….just may be some moments of consolidation and minor correction along the way but nothing that interrupts the new uptrend back into a downtrend imo.
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