This one is going to be difficult to explain and show, but stay with me.
As was mentioned in previous post, there was a high probability of upward breakout from an ascending triangle that could lead to bulls break out of a falling wedge due to their close proximity to each other. This is exactly what happened, and now the price operates outside falling wedge, which indicates an uptrend to the next trend line at around $13500-14000(depending on exchange).
At the moment price is showing signs of a rising wedge and hourly RSI is close to overbought region, thus price is likely to fall from the rising wedge once it reaches next resistance level. However, don't mistake it for another downtrend move, as the likely outcome of incoming fall is to set up a LARGER BULL PATTERN, which in my opinion going to form an ascending triangle because there are already signs of such set up (red circles in next pic). Therefore price is unlikely to retract further than those 2 red lines (50 and 62%) before another Price Surge. From there bulls either going to break this new ascending triangle or retract one more time before final run to breakout. Volume is also strong.
Counterargument
There is no guarantee that the ascending triangle is going to form, this is my perception of what chart shows and picture whales want us to see, and better watch the lower boundaries as its break will completely destroy this prediction. Always set stop losses.
If you want me to cover any of the ALTs let me know in the Comments
