There is reason to believe we may be in super-millennium wave 5, and are prepping for millennium wave 3. Price is currently holding this high volume profile area and bouncing off the channel median. Volatility indicator at the lows while price is making higher lows and is now slowly growing. Hidden bullish divergence is visible on 1D RSI.
Measured price target of triangle breakout: ~$678 (28.9%)
On the H4 timeframe we can see the most recent breakout, with volume, RSI and volatility increasing:
Measured price target of triangle breakout: ~$678 (28.9%)
On the H4 timeframe we can see the most recent breakout, with volume, RSI and volatility increasing:
Comment:
A third touch on the upper trendline will confirm the pattern (if it touches). From then onwards, it will be following PA to play the appropriate breakout, range or breakdown. 1D, 12H & 4H charts are all showing an increase in volatility, whilst 1H is currently at extreme volatility (BBWP >90%).
