Some updates on the charts

Now given the odd price action towards the end of the recent session, what happened and where did price tag to?

The answer lies in the Daily chart, where there appears to be a wedge pattern, and price had tagged the trend line/ the top of the pattern. Coincidentally, the Daily 20MA has been consistently aligning with that line (), functioning as resistance up to this point.

I've repeatedly observed that price often adhere to these points of confluence between resistance/support levels, trend lines and moving averages.

Is there a name for this wedge pattern, and do you think it's a bullish or brearish one? Please share your thoughts in the comments.

So how do all these tie together? Zooming out to the Weekly Chart reveals that price appears wedged between a rising 20MA and declining 10MA, and still seem to be coiling up for the next big move.

It's good to note that price did push a higher high from last week's candle, and did not make a lower low from it thus far.

Personally, given the absence of a discernible trend at present, I do not like to "gamble" on the outcome of potential breakouts from wedges or consolidation phases early, as things can turn against you very quickly.

These are my thoughts, feel free to share your own thoughts in the comments below.