+1100% TEL Descending Wedge Breakout Within Next 2 Weeks?

26 Eyl 2021

History
TELUSDT is 15 days away from pinching between the bottom and top resistance that formed on March 7, 2021, which occurred just two breakouts ago. The most recent breakout took 14 days to complete and resulted in a +1,077% gain.

Potential
If history repeats itself for a 3rd time in a row, we'd be looking at a +1,105% gain by October 10th, if TEL were to break out today.

Supportive Observations

• Price action is within a descending wedge and has been knocking on the upper trendline, which is bullish.
  
• RSI is at 42, which is the level it's been at immediately prior to numerous other breakouts.
  
• The blue MACD line is curling up towards the signal line, and the red histogram bars are decreasing in volume, which is bullish.
  
• Volume has been descending below the MA.
  
• Waiting for a breakthrough and retest of the top trendline for support would be the safest time to secure a position.
  

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