As you know I love these wedge contractions with a resetting stochastic RSI, these usually lead to an upward move, or a flush before an upward move or consolidation. What next:
-Do we explode upward? stochastic RSI and price action contraction point to this
-Do we breakdown, the local demand is very far away and BTC has corrected a bit finally, this points to downside
-Do we have a quick downside flush because of leverage and then consolidate within the pre-existing range? This has happened many times on charts like this, especially cosmos tokens like sei
-Do we explode upward? stochastic RSI and price action contraction point to this
-Do we breakdown, the local demand is very far away and BTC has corrected a bit finally, this points to downside
-Do we have a quick downside flush because of leverage and then consolidate within the pre-existing range? This has happened many times on charts like this, especially cosmos tokens like sei
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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.