The falling wedge chart pattern.As we have always seen how this chart pattern play out mostly in the bear market, GASBTC chart pattern is also showing the same chart pattern
and looking to breakout with aN INVERTED HAMMER at the bottom line(support) of the wedge.
The inverted hammer is a two line candle, the first one is tall and black followed by a short candle line of any color.
The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential reversal upward. It is important to note that the Inverted pattern is a warning of potential price change, not a signal, in and of itself, to buy more reason why the walling wedge is there to give a signal to take a position only when price breaks out ot the wedge and closes out it.
Also on the one day time frame using the ichimoku metrics,it is giving a signal for a KIJUN bounce. As the the blue EMA(TENKAN) is far away from the red EMA(KIJUN), this is calling for a price bounce back to the 275942sats.
More signal is given at the stochastic RSI, as it is yet to cross the 50 determination zone to the overbought area.
Most times the blue EMA(TENKAN) will likely pull price down, serving as a resistance.
SELL:0.00278747sats up to 0.00392280sats
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.