In this case study, we will examine and dissect $GNT's and how its formation pattern indicated a future increase in price.
GNT'S Falling Wedge
A is when the price makes lower lows and lower highs with the resistance line being steeper than the support line. Every new low is created with loss of momentum, signalling of underlying strength.
Between the yellow lines, we observe this formation pattern.
There are two variations and we will be observing variation #2: The Continuation
The continuation is when price breaks above the resistance line of the and continues on it's formation. The target price should be the height of the measured up from the breakout point.
In this case, our target for $GNT is 6000-6500 Satoshi.
Happy Trading and here is a video for reference!
Constructive Criticism is preferred! Compliments welcomed aswell :)
REFERENCE IS LINKED FOR GRAPHICAL OVERVIEW OF THIS CONCEPT-
Target 2: 6500 Satoshi
Target 3: 7000 Satoshi
Target 4: TBD