will this breakout in a day or 2 or form a falling wedge

the two indicators show a bullishly diverging macd and RSI . Moreover, because it's currently resting on the support there is a good chance it may breakout soon. If not it may form a falling wedge and breakout at a later date. In my opinion there is not enough downward pressure to break bellow the support but we shall wait and see.

This is worth a close look for the next couple of weeks
Comment: Nothing much happened today, but it is starting to look bullish according to the RSI as the two points in the picture referenced has the same price point at the hourly, but the rsi is higher on the second point indicating a bullish strength.

What has me a bit confused is how this is being played out as it seems like it can be viewed as a descending triangle ,typically a bearish pattern, while viewing the area below the support as a bear trap . On the other hand, it can be viewed as a falling wedge, but instead of bouncing on the bottom area one more time to the upside it hovers in the middle perhaps , because it's just a very strong support or a big indication of really weak bearish pressure. I am still learning bulish, but I will wait and see tomorrow morning before I make my decision. Once it starts looking bullish on the 5min - 1 hour chart and or bounce off the support again I will enter my position. I like this play because, we have another area support directly below while the potential for it to reach 46ish is high. Just from eyeballing it it looks like a 3:1 risk to reward play with a decent probability to break to the upside.


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