*BREAKOUT CONFIRMED? 👀*
This chart just printed exactly what we’ve been waiting for.
*Key points:*
- *Months of accumulation*: That purple box from Jun-Aug was a brutal consolidation between $6.00-$7.00
- *Descending trendline*: Tested and rejected multiple times since Feb. Price just closed ABOVE it
- *Current price*: $7.567 and pushing
- *Next target up top*: $15.085 marked on the chart
This looks like a classic range breakout + trendline flip. If it holds above the trendline, we could see a fast move to retest the $10 area, then $15.
Volume on the breakout candle matters now. A retest of $6.80-$7.00 would be ideal for longs.
#breakout. #TechnicalAnalysis
This chart just printed exactly what we’ve been waiting for.
*Key points:*
- *Months of accumulation*: That purple box from Jun-Aug was a brutal consolidation between $6.00-$7.00
- *Descending trendline*: Tested and rejected multiple times since Feb. Price just closed ABOVE it
- *Current price*: $7.567 and pushing
- *Next target up top*: $15.085 marked on the chart
This looks like a classic range breakout + trendline flip. If it holds above the trendline, we could see a fast move to retest the $10 area, then $15.
Volume on the breakout candle matters now. A retest of $6.80-$7.00 would be ideal for longs.
#breakout. #TechnicalAnalysis
