Rising wedges galore! I think this is a classic example of sharp price fluctuation and rising wedges which follow them. Bulls were not able to push the channel upward and we had a clear M pattern double top at 400. I expect the bear trend to continue until the rising wedge profit target of roughly 235-250. Let's see what happens.
Trade attivo:
Trade up 15% so far, pattern analysis shows eth bottoming at 235 to 250 at first with a recovery run to retest 280 or 300. After that, with confirmation from China, I believe it will be a crypto-wide sell off. I expect levels of support at:
235-250
200-215
135-150
85-100
Good luck out there, never HODL.
235-250
200-215
135-150
85-100
Good luck out there, never HODL.
Trade chiuso: obiettivo raggiunto:
Closed at 224. Waiting for Another short opportunity or a buy opportunity. Right now, it is just too volatile to make smart decisions.