When I try to frame the whole trend breakout movement into a shape, it ends up looking as a rising wedge.
While the price is going up MACD is going down. RSI on the daily chart is the highest since mid December.
Would appreciate a comment from someone who actually has some relevant experience and knowledge, it's quite possible that I'm looking at it completely wrong, since I don't really know what I'm doing :)
I'm really curious how will the next week play out, is the breakout going to be confirmed by a retest of the long term downtrend line or is it going to fall back down?
While the price is going up MACD is going down. RSI on the daily chart is the highest since mid December.
Would appreciate a comment from someone who actually has some relevant experience and knowledge, it's quite possible that I'm looking at it completely wrong, since I don't really know what I'm doing :)
I'm really curious how will the next week play out, is the breakout going to be confirmed by a retest of the long term downtrend line or is it going to fall back down?
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Updated wedge shape:
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Looks like wave 5 is complete, let's see if it breaks out of the wedge now
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