Symmetrical triangle breakout direction unclear on $VXRT
Weekly channel is up ---> bullish
Strong tests of resistance fail to follow-through ---> bearish
Price volume higher on bullish bars and decreases on bearish bars ---> bullish
Price action can be interpreted as distribution or accumulation ---> neutral
Increased institutional interest ---> bullish
Dilution ---> bearish (probably short-term)
CONCLUSION: could go either way, triangle breakout will be decisive
Set alerts to signal potential entry.
Strong tests of resistance fail to follow-through ---> bearish
Price volume higher on bullish bars and decreases on bearish bars ---> bullish
Price action can be interpreted as distribution or accumulation ---> neutral
Increased institutional interest ---> bullish
Dilution ---> bearish (probably short-term)
CONCLUSION: could go either way, triangle breakout will be decisive
Set alerts to signal potential entry.