Points to consider:
- support and resistances converging (apex)
- Price action (sellers bought up)
- above 50
RVN trading within a mature symmetrical triangle where buyers have consistently bought up the sellers throughout the formation.
breaking above 50 showing increasing strength in the market supporting the bias.
Strong node is present, increasing follow-through is key for a continuation of this break.
Overall, in my opinion, a breakout is imminent. A long trade will be validated on a retest of the neckline (conservative entry) or a break of the formation (aggressive entry) as both technical targets align with structural resistance.
What are your thoughts? Let me know in the comments below!
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