Perpetual Protocol (PERP) to $20On the above weekly chart price action has corrected 97% since September 2021. A number of reasons now exist to consider a long position. They include:
1) Price action and RSI resistance breakouts.
2) Support and resistance. Price action confirms support on past resistance (see arrow). Look left.
3) GRM support has already confirmed.
4) The falling wedge breakout and confirmation forecast a 5000% move from the breakout point. Forecast is measured from low to highest touchpoints within the wedge (blue circles).
Is it possible price action corrects further? Sure.
Is it probable? no.
Ww
Type: trade
Risk: <= 6%
Timeframe for long: Yesterday
Return: 50x