ALGOUSDT MASSIVE FALLING WEDGE
Algo is currently inside of a massive falling wedge pattern (bullish pattern). Volume is declining as we come closer to the breakout point as well.
Breakout traders will be waiting to enter positions once price break the resistance or support line. Breakout to the upside is more probable.
Breakout traders will be waiting to enter positions once price break the resistance or support line. Breakout to the upside is more probable.
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Price broke down instead of higher probability of breaking up. This is generally because of strong correlation with bitcoin's decline.
In any case, a "breakout trader" seizes this type oppurtunities no matter what direction of the breakout.
I hope you as well shorted and made nice gains.
Please note, the widt of the wedge is met since the breakout and current price region is a good place to take profits.
Price broke down instead of higher probability of breaking up. This is generally because of strong correlation with bitcoin's decline.
In any case, a "breakout trader" seizes this type oppurtunities no matter what direction of the breakout.
I hope you as well shorted and made nice gains.
Please note, the widt of the wedge is met since the breakout and current price region is a good place to take profits.