SPI/USDT, Breakout imminent
SPI/USDT has been making a good set of higher highs for a while now. From here on outwards there are two possibilities that I think are the most likely.
1. SPI retests the bottom of it's trend before breaking upwards.
2. SPI consolidated within this range (bottom red square and possibly a new level of resistance) before making a move.
The path that I think is most likely has been drawn out.
There is the case of a bearish scenario where the series of higher highs is lost and SPI breaks down in an attempt to find support. This scenario seems to be very unlikely to me. (think around the 20-25~ area where the two bottom candles meet, roughly around 23~)
THIS IS NOT FINANCIAL ADVICE.
This is merely notekeeping for me.
1. SPI retests the bottom of it's trend before breaking upwards.
2. SPI consolidated within this range (bottom red square and possibly a new level of resistance) before making a move.
The path that I think is most likely has been drawn out.
There is the case of a bearish scenario where the series of higher highs is lost and SPI breaks down in an attempt to find support. This scenario seems to be very unlikely to me. (think around the 20-25~ area where the two bottom candles meet, roughly around 23~)
THIS IS NOT FINANCIAL ADVICE.
This is merely notekeeping for me.
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