With the Garlinghouse announcement at SWELL that Xrapid is now live, the probability of this ascending bull pennant
breaking up just increased tenfold. The breakup target from the pennant
is the first green target the second is the target from the breakup of the old weekly descending triangle
pattern we already broke out of. One thing in particular to take note of is the current trajectory of the 50ma and 200ma (in blue and orange) and how they symmetrically match the ascending triangle pennant
but also the apex of the pennant
is set to occur at precisely the same time as the golden cross of those 2 moving averages. Because of this I think the golden cross can likely occur at the same time we break out upward from the current ascending triangle
. We will likely break upward from it sooner than the apex with the current bullish
news, but if not I foresee us breaking upward by October 17th. From there we may see a retracement once the first target is hit, or we may just have a parabolic rise all the way to the second target...I would prefer a healthy correction between the 2 targets though to sustain the gains. If we just go parabolic the whole way we may experience a big dip to follow. So lets hope for a steady non parabolic moon.