Again, what I know is limited, but I am willing to learn and hear the opinions of others.Thanks @luu78 for the comprehensive response. I only started learning about technical analysis recently and was quite interested in it. The reason why I though this is more of a "rising wedge' then an 'ascending channel' is because of the trend lines. If you draw a trend line on the past few days, you will see that the trend line is not really parallel, if it were a ascending channel then the trend lines would be more parallel.
Looking at the more recent developments, the trend seems to have broken through the resistance. I agree doing research and forming an opinion by yourself is very important. Thanks. Have a great day !
I find things are not an exact science when it coems to exchanges. I think the most important part is to form a believe and see it through and understand why it happened. Only through experience will it make sense!
Cheers man, good luck!