Clean wedge forming on $CIFR — this is textbook consolidation structure.
Price dropped 9.54% to $15.17 yesterday on heavy volume, now sitting right at support and parked on the volume shelf. That's your first clue: when price meets volume support after a sharp move, you're watching for either a bounce or a breakdown.
Here's the structure:
Support is right here at $15.17 — volume shelf confirms it. If this holds, you've got your launch pad.
Resistance sits at $17.50 (next volume shelf up) and $20 (upper trendline of the wedge). Those are your targets if support holds and buyers step in.
The wedge itself is a compression pattern — lower highs, higher lows. Price is coiling. The breakout direction matters more than the pattern itself. Watch for volume expansion on the break.
What confirms the long setup? Hold above $15, reclaim $17.50 on volume, then $20 becomes your next resistance test.
What kills it? A breakdown below $15 with follow-through volume flips the structure bearish and opens the door lower.
This is a wait-and-see setup. The wedge tells you consolidation is happening. The break tells you the direction. Don't front-run it — let the structure show its hand.
Price dropped 9.54% to $15.17 yesterday on heavy volume, now sitting right at support and parked on the volume shelf. That's your first clue: when price meets volume support after a sharp move, you're watching for either a bounce or a breakdown.
Here's the structure:
Support is right here at $15.17 — volume shelf confirms it. If this holds, you've got your launch pad.
Resistance sits at $17.50 (next volume shelf up) and $20 (upper trendline of the wedge). Those are your targets if support holds and buyers step in.
The wedge itself is a compression pattern — lower highs, higher lows. Price is coiling. The breakout direction matters more than the pattern itself. Watch for volume expansion on the break.
What confirms the long setup? Hold above $15, reclaim $17.50 on volume, then $20 becomes your next resistance test.
What kills it? A breakdown below $15 with follow-through volume flips the structure bearish and opens the door lower.
This is a wait-and-see setup. The wedge tells you consolidation is happening. The break tells you the direction. Don't front-run it — let the structure show its hand.
