Rise has started to create a nice little flag pattern for itself, and if we look back at the price history, we can see that it likes to drag out these flag patterns (around a week or so). In saying this, I believe that there could be a possible two likely scenarios in play. The first, is a continuation of that history, and we see the price move in this descending channel until the price hits support, lining up with the 0.5 Fib retracement level. This could potentially cause it to drastically bounce, looking to hit the hidden resistance in line with the ATH. The second scenario, is where we see a more true flag pattern play out, and the price moves upwards as much as the previous movement. For this to occur in line with the hidden resistance, it would break around this time tomorrow. We would then potentially see a retracement and a new flag pattern emerge, causing the price to go up in a staircase like pattern.
I'm currently holding some RISE, but will look to buy some more if it either, breaks upwards from this flag, or bounces from support
I'm currently holding some RISE, but will look to buy some more if it either, breaks upwards from this flag, or bounces from support
Commentaire:
Broke flag pattern and is now testing resistance. Look for correction here