It is often observed that the most strong breakouts occur between 60-70% of the length of the formation. This can be quickly observed as well in the previous descending wedge that broke out in 2019.
We are currently about 67% of the way into the wedge that I have drawn here.
Take note also, that there are also hidden bullish divergences occuring on the weekly chart (not drawn in this analysis, but look for them).
A minimum target from the current price is around a 100% move to a historic level of confluence represented by the dotted red line. If the descending wedge has a vigorous break to the upside, we could also have confirmation of a fractal pattern which would indicate that the coin's value in BTC should also surpass it's previous ATH, presenting a 9x gain potential at minimum from the current price.
Remember, a project doesn't necessarily have to be good or bad for it to make large returns on investment.
We are currently about 67% of the way into the wedge that I have drawn here.
Take note also, that there are also hidden bullish divergences occuring on the weekly chart (not drawn in this analysis, but look for them).
A minimum target from the current price is around a 100% move to a historic level of confluence represented by the dotted red line. If the descending wedge has a vigorous break to the upside, we could also have confirmation of a fractal pattern which would indicate that the coin's value in BTC should also surpass it's previous ATH, presenting a 9x gain potential at minimum from the current price.
Remember, a project doesn't necessarily have to be good or bad for it to make large returns on investment.