Rising Wedge appearing withing 5th Wave

15 Nis 2021

Hello fellow traders

As you may see in the chart the price has formed a rising wedge.
The patterns likelihood of validity is fortified by its occurrence within the 5th wave.
Other indicators of making a breakdown more probable are (ordered descendingly by their weight) :

• the bearish divergence in the RSI (lower highs in it vs higher highs in price)
  
• the decline in volume within the pattern, and especially the volume of the candles which are forming the higher highs
  
• the inverted parabolic upper resistance (light blue curve)
  
• the state of the stoch RSI
  

The patterns projected target is found around 45k

18 Nis 2021

Not

The analysis seems to hold. No sign of a reversal so far.

18 Nis 2021

Not

18 Nis 2021

Not

Quite a well matching fractal that seems to be in play here.