Hey bud- wedges are triangular is shape, flags are channels...

Hey bud- wedges are triangular is shape, flags are channels sloping in the opposite direction to prior trend. Im seeing a massive wedge since May 2020 too, which coincides with the shorter term one you have highlighted. Chart patterns appear in all time frames. I think there was a win rate of around 80% for wedges that resolve less than 60% the way through the wedge- and that percentage win rate decreases to a small number when the chart finds its way to the end of the wedge as we are seeing now. That's not to say that the price won't resolve positively.

Technically- 0.75 has seen really strong support/resistance since late 2020, so now that were above that level I would say that 0.75 should provide a solid base- this coupled with 0.75 being the bottom trend line of ur wedge there & the 100k buy orders at 0.75. That being said there are a lot of sell orders outstanding at 0.80+ which could get impatient and dump at any time wiping the support.

Its a coin toss if we break the channel/ wedges and head back to ATH or get rejected back potentially to the bottom of the channel @ .40. Looking at buy sell ratio- there are 500k orders under 1.00- ie theres a crap tonne of orders to get thru jus to eek out 30% upside. The chart right now also sits at the bottom of the up trending channel- meaning that for the price to advance to the top of the channel it has like 2 or 3 resistance trends to break. ALA its gna take a super bullish catalyst to get the SP rolling upwards to either churn those orders or get a rerate and have them pull those orders.