Falling Wedge
2025-01-05
Category: None

Hi there,

The price broke down from the rising wedge and has now formed what appears to be a falling wedge, if this wedge was to be confirmed and it broke out the price could be eyeing $2.52

The falling wedge broke down which appears to be a fake down, it seems to be repeating previous pattern that rocketed the price recently. 1H is currently forming a doji at the time of posting this analysis, however, that could very well change. If a doji is formed will it signal a reversal?

Whether or not this will breakout or be even be confirmed is yet to be known, just thought I'd post my idea to get the communities input.

Market is very volatile at the moment and unpredictable. I still believe a second retest of $2.49 is on the horizon before visiting $2.22 again but we'll have to see. I could be wrong.

NFA

Thank you for taking the time to review my idea, I am interested in your insight and feedback, anything would be greatly appreciated.

Thank you! :)