A closer look at the lower time frame, to see how price will react immediately to retracement.
5min time frame on BTCUSD showing DESCENDING BROADENING WEDGE FORMATION.
Descending broadening wedges are mid list performers, found most often with upward breakouts in a bull market.
Downward breakouts are quite rare. As with other broadening patterns, partial rises and declines predict the breakout direction.
Partial declines work particularly well, but are difficult to distinguish from the pauses that normally occur as price bounces from trendline to trendline.
Was closely looking at this chart, waiting patiently as it breaksout and was at the same time waiting for it to consolidate in that green zone for more stronger breakout, as seen below:
A retest of the breakout will likely take place.
Targets still remains the same, as was expected breakout and targets pending..