Hey guys, have you checked Balancer recently? It's reaching the very end of a pretty symmetrical triangle formation and this generally means something dramatic is about to happen!
BAL has tried to push the upper trend line acting as resistance once before and got denied, we're now at a critical point once again with the price hitting the same trend line - will it bust through this time and reach profits of 30-40%?
Or will it bounce off resistance and stay within the symmetrical triangle for a short while?
Or will it be declined by the upper trend line, travel through the current consolidation zone and out the back end of the triangle all the way down to previous levels of support at 30-40% below the current price?
What do you guys think?
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Price seems settled along that upper trend line, which way is this breakout going?