Price is at the top line of a rising edge which is often resistance.
Rising Wedges are considered Bearish But are not valid until the bottom line is broken.
Rising wedges can get squeezed to the upside or the downside but as a rule, price will come back down to break the bottom line at some point in the future.
Both lines slope up and narrow at the apex. Rising Wedges represent too much supply within and are often caused by FOMO.
No recommendation.
There is also a possible RSI divergence.
Rising Wedges are considered Bearish But are not valid until the bottom line is broken.
Rising wedges can get squeezed to the upside or the downside but as a rule, price will come back down to break the bottom line at some point in the future.
Both lines slope up and narrow at the apex. Rising Wedges represent too much supply within and are often caused by FOMO.
No recommendation.
There is also a possible RSI divergence.
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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.
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.