One indication that leads me to believe this pattern will break to the upside is the current price action on the XTZ/ BTC pair. This trading pair was recently in a similar EQ pattern that has broken out to the upside and is now setting higher highs on the 4-hour timeframe. This leads me to believe there is strength in the demand for XTZ relative to BTC and it's current .
Ultimately, BTC is the king asset in the market. Any major sell-offs or price pumps will influence the entire Altcoin market - including XTZ.
Trading is a game of probabilities and positioning. Always be in a position to take advantage of any probabilistic outcome.
Still, if I see an obvious trade set-up, I will still highlight it. Keeps my skills sharp.