Hey guys. If we hit the bottom or top of this symmetrical triangle, with volume backing it up. we could see a significant move to the up- or downside.
If we go down, expect a +-14% drop towards support formed in late december.
If we go up however. we might first hit a long time support/resistance line. this could become a big resistance. Especially because it would be nearing the previous high.
There could be a possibility of breaking out and bulls pushing hard. This might take us another leg up (close to $40.000!!!)
Big gains to be made today! Stay safe and HODL on!
Legend
Yellow dotted line: long time support/resistance line
Solid yellow line: Was resistance in the rising wedge but we moved over so became support
Solid green line: Longtime support that actually held. If we break this, trade with caution
Red dotted line: Resistance formed from the current ATH
If we go down, expect a +-14% drop towards support formed in late december.
If we go up however. we might first hit a long time support/resistance line. this could become a big resistance. Especially because it would be nearing the previous high.
There could be a possibility of breaking out and bulls pushing hard. This might take us another leg up (close to $40.000!!!)
Big gains to be made today! Stay safe and HODL on!
Legend
Yellow dotted line: long time support/resistance line
Solid yellow line: Was resistance in the rising wedge but we moved over so became support
Solid green line: Longtime support that actually held. If we break this, trade with caution
Red dotted line: Resistance formed from the current ATH
Trade closed: target reached:
We hit 1st target, at least the yellow resistance. But who knows what the bulls have in store. GG