While I've visually plotted my bullish scenario above, I will point out that this could be considered a rising wedge, which is an almost exclusively bearish sign. Im hoping that the only real reason we didnt really break out on our last peak was because the large dotted red lines serves as a very strong resistance point, as it was a previous local high, seen here,
And if that's the case, we may get our real bounce and breakout very soon. Otherwise, it would seem like a pretty bearish sign.
Comment:
As I'm on my phone I can't post a hood chart update, but weve just made contact with our heavy resistance at 0.0486, within an hour or so well know if we're breaking it or not. Currently meeting mild only resistance.