ALICE BREAKOUT THE FALLING WEDGE! 4H TF
The falling wedge pattern (Marked on the grey thick lines) is a continuation pattern that forms when price bounces between two converging and downward sloping trend lines. This is considered a bullish chart formation but can show both reversal and continuation patterns – depending on where it appears in the trend.
It breaks the falling wedge (red circle area) with a significantly higher volume than average. Meaning it has a good chance to continue the upward movement. The immediate resistance is on $20, then $21.65 area.
A major resistance is on $19.
This chart is only an analysis of the current trend, not a financial advice to do any action. Please trade responsibly, and do not forget to do your own research.
It breaks the falling wedge (red circle area) with a significantly higher volume than average. Meaning it has a good chance to continue the upward movement. The immediate resistance is on $20, then $21.65 area.
A major resistance is on $19.
This chart is only an analysis of the current trend, not a financial advice to do any action. Please trade responsibly, and do not forget to do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.