+1100% TEL Descending Wedge Breakout Within Next 2 Weeks?
History
TELUSDT is 15 days away from pinching between the bottom and top resistance that formed on March 7, 2021, which occurred just two breakouts ago. The most recent breakout took 14 days to complete and resulted in a +1,077% gain.
Potential
If history repeats itself for a 3rd time in a row, we'd be looking at a +1,105% gain by October 10th, if TEL were to break out today.
Supportive Observations
The Information contained in this idea is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice. You understand that you are using any and all Information available on or through this website at your own risk.
TELUSDT is 15 days away from pinching between the bottom and top resistance that formed on March 7, 2021, which occurred just two breakouts ago. The most recent breakout took 14 days to complete and resulted in a +1,077% gain.Potential
If history repeats itself for a 3rd time in a row, we'd be looking at a +1,105% gain by October 10th, if TEL were to break out today.
Supportive Observations
- Price action is within a descending wedge and has been knocking on the upper trendline, which is bullish.
- RSI is at 42, which is the level it's been at immediately prior to numerous other breakouts.
- The blue MACD line is curling up towards the signal line, and the red histogram bars are decreasing in volume, which is bullish.
- Volume has been descending below the MA.
- Waiting for a breakthrough and retest of the top trendline for support would be the safest time to secure a position.
The Information contained in this idea is not intended to be and does not constitute financial advice, investment advice, trading advice, or any other advice. You understand that you are using any and all Information available on or through this website at your own risk.
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.