Because lines.... and stuff to Trade or not to Trade the chop
No description needed pick a path of destiny lets gamble good luck
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OH just for funsies I'm picking Path 2 with the breakdown of the megaphone. counter trade me we shall see who wins should be fun :)
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Keep in mind there are patterns within these two patterns that we can keep an eye on like this descending triangle here color coded in Orange.
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Welp Broke down into the wedge from the Descending Tri pick your poison
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so far personally think that Path 1 may be out of the question, (while not impossible) it seems unlikely as time has elapsed. we i have updated the shaded patterns with what is left. It seems to be following the Wedge rather nicely came down touched support range and bounced to the top. Remember these are squiggles to show direction.... they're rough estimates. If you're looking for exact spots to buy this probably isn't the chart for you.
Trade active:
Alright so I'll admit that I had my wedge lines drawn a little funky and I did rearrange them a bit to the clear rejection candle wicks. It looks that the horizontal resistances seem to be holding for the mean time while being pierced they're getting hourly closes underneath i think its coming to a decision point atm though so we will watch and see if it can break and hold the resistance levels. I'm still betting on the wedge playing out on the breakout coming soon or continuing inside.
Here is the updated wedge with rejections on the trend line.
Although I did find something kind of cool when looking back at the last drop we seem to be forming the same pattern but off of a smaller pump. so could we see another small pump to 3680-3700ish then drop here in the coming days? not COMPLETELY sure but remember History doesn't repeat itself but it often rhymes and this is pretty damn close to jamming out. So hope this throws a new perspective on what you all are seeing.
Enjoy
Here is the updated wedge with rejections on the trend line.
Although I did find something kind of cool when looking back at the last drop we seem to be forming the same pattern but off of a smaller pump. so could we see another small pump to 3680-3700ish then drop here in the coming days? not COMPLETELY sure but remember History doesn't repeat itself but it often rhymes and this is pretty damn close to jamming out. So hope this throws a new perspective on what you all are seeing.
Enjoy
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chart i was talking about in last post xD sorry guys/gals
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well folks we seem to have a winner Path 2 played out rather well.
this was a funny experiment id expect this to drop out of the bottom of this megaphone sometime after a possible retest of new resistance. (red box)
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Ok so the original megaphone didnt really work out but the ranges i have layed out seem to be holding long trend lines so will keep this trade active.