Price shot through the triangle's resistance without stopping and with volume which constitutes a break out. But is this a definitive breakout? At 10.5k there is a massive sell wall which have been there for weeks. The majority of stops are behind that wall. Whales can be hunting for liquidity and not mooning it. Rejection at 10.5k can constitute a 5% triangle pattern failure or a retest of the triangle.
Regardless, in the next days price will see very high volatility, up or down.
Regardless, in the next days price will see very high volatility, up or down.
Comment:
fakeout on a large scale, the down leg was heavier in volume than the breakout.
