XRP symmetrical triangle / ETH in bearish wedge
Aggiornato
On the right side, you can see XRP being close to breaking out of a symmetrical triangle, no matter which direction the breakout will be, it will come soon.
On the left side, you can see ETH is consolidating within a bearish wedge, which might be a bear trap as the typical characteristic of the declining volume is absent.
My opinion is that it all depends on BTC.
On the left side, you can see ETH is consolidating within a bearish wedge, which might be a bear trap as the typical characteristic of the declining volume is absent.
My opinion is that it all depends on BTC.
Nota
Starting to look interesting now, ETH testing the wedge trendline. Meanwhile XRP got rejected from the trendline of the upper triangle, now retesting the upper trendline of that bull flag for support. BTC in my view still indecisive, which is unfortunate as I believe its the deciding factor.
Personally Id be extremely inclined to take a short position in ETH, but with BTC hanging around without a clear direction, I will resist my FOMO for now.
Trade attivo
Short position in ETH: Max Target 160 SL: 203Trade attivo
ETH forming a bearish pennant should continue downwards depending on BTC movement
Nota
XRP successful breakout TP #1 reachedTrade attivo
My bad call, not making a pennant but looking like a bear flag, could also be a trap. Will see.
Trade chiuso: stop raggiunto
ETH position closed in the negative, clear bear trap. Markets behaving weird lately.Nota
XRP TP #2 reached, likely that we will see a small correction of some sorts aka a bull flag or pennant.
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