Falling wedge sitting just above an area of high volume/support on the initial leg up.
This is the last zone of support before the previous cycle's bottom.
(Volume Profile on the full leg up)
A nice falling wedge has formed, and the price is now testing the top trendline after having a few days of bullish price action.
As seen in the arrows, a break here could change the short term trend and potentially begin a recovery phase.
This is the last zone of support before the previous cycle's bottom.
(Volume Profile on the full leg up)
A nice falling wedge has formed, and the price is now testing the top trendline after having a few days of bullish price action.
As seen in the arrows, a break here could change the short term trend and potentially begin a recovery phase.
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Related publications
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.