The falling wedge pattern (Marked on the grey thick lines) is a continuation pattern that forms when price bounces between two converging and downward sloping trend lines. This is considered a bullish chart formation but can show both reversal and continuation patterns – depending on where it appears in the trend.
It breaks the falling wedge (red circle area) with a significantly higher volume than average. Meaning it has a good chance to continue the upward movement. The immediate resistance is on $20, then $21.65 area.
A major resistance is on $19.
This chart is only an analysis of the current trend, not a financial advice to do any action. Please trade responsibly, and do not forget to do your own research.
It breaks the falling wedge (red circle area) with a significantly higher volume than average. Meaning it has a good chance to continue the upward movement. The immediate resistance is on $20, then $21.65 area.
A major resistance is on $19.
This chart is only an analysis of the current trend, not a financial advice to do any action. Please trade responsibly, and do not forget to do your own research.