🌧️ BLZ In An Ascending Wedge

BLZ is stuck in an ascending wedge, which is good for the short term. Beware of the local wedge forming, as BLZ may have a retracement if it fails to break the local wedge's top. If not, then expect BLZ to continue following the ascending wedge. Do not hold BLZ for too long since an ascending wedge usually means high risk of a downside retracement.

Nota

BLZ appears to be following the descending channel. Still waiting for upside.

Nota

For now, the target is to sell BLZ at around $0.54, following both a longer descending wedge as well as the top of the descending channel. Due to high selling volume, it's unlikely for BLZ to break out of either the channel nor the wedge in the short term.

Trade chiuso: obiettivo raggiunto

Took profit at $0.54. Wait for better price action signal to buy back in.

RainyTrader

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RainyTrader