PAY - Falling Wedge at Completion, Long-Term Wedge Target (~30x)

Looking at the daily chart for PAY/BTC, we can see a massive falling wedge coming to completion. Using the wedge height to determine the target price, you can see we have a massive target ahead of us. Remember that this is a long-term target that I imagine will take us into next year, so do not expect us to hit this overnight. But it is a huge target nonetheless that I would be thrilled to hit. I see obvious bullish divergence on the MACD which appears to be getting squeezed from above and below. I'll be looking for a breakout from this wedge. Whether it will be up or down will most likely depend on Bitcoin. As a result, buy the breakout to upside. That way if it breaks to the downside, you'll avoid the loss and catch PAY at a cheaper price. Cheers!

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Comment:

Breakout!

Comment:

Finally the breakout we were looking for!