in the previous post, the price was in an Ascending Right Angled Broadening Wedge.
Support was broken and the $2 dollar support zone has bounced it off again for now.
The bulls have brought the price to the $2.3 so that a symmetrical triangle is more or less in the making.
From the $2.3 dollar we hopped into a little downtrend, where a small Falling wedge is forming.
If this scenario plays out in such a way that the Falling Wedge Bullish breaks out, the breakthrough could also apply to the larger pattern (symmetrical triangle) quite immediately, then the price towards $2.60 would be the price target.
In the event of a Bearish breakout, the bears could make another attempt at $2.
For example
a similar situation could arise like Ethereum recently did a triple bottom…
then the middle leg would be slightly different, but a scenario to keep in mind.
breaking the $2 dollar could push it down towards $1.75
Support was broken and the $2 dollar support zone has bounced it off again for now.
The bulls have brought the price to the $2.3 so that a symmetrical triangle is more or less in the making.
From the $2.3 dollar we hopped into a little downtrend, where a small Falling wedge is forming.
If this scenario plays out in such a way that the Falling Wedge Bullish breaks out, the breakthrough could also apply to the larger pattern (symmetrical triangle) quite immediately, then the price towards $2.60 would be the price target.
In the event of a Bearish breakout, the bears could make another attempt at $2.
For example
then the middle leg would be slightly different, but a scenario to keep in mind.
breaking the $2 dollar could push it down towards $1.75
Tims.Technische.Analyse by TIMTIBBO
