After a weekend of analysis and considering some alternative patterns I came across this clear ascending triangle pattern. We now had 1 of 3 scenarios that WILL play out: either the price will break up, break down, or consolidate further and trade sideways for a while as the market decides where to put it's money.
According to Bulkowski's rules for ascending triangles they will break up 63% of the time: thepatternsite.com/at.html
The RSI is neutral with more upside potential. The hourly MACD and weekly MACD shows an upward trend - making it more likely that we will indeed break up out of this triangle.
According to Bulkowski's rules for ascending triangles they will break up 63% of the time: thepatternsite.com/at.html
The RSI is neutral with more upside potential. The hourly MACD and weekly MACD shows an upward trend - making it more likely that we will indeed break up out of this triangle.
