ETHBTC - Ascending Wedge, part of overall bearish pattern
On the 1H, there is an ascending wedge happening. There still seems to be major resistance around 0.0333. That will intersect with the larger descending wedge on 28 September, and I suspect it will have a major drop from there, forming a new lower high and a new lower low, likely below 0.030.
Comment:
The current price has exceeded the larger descending wedge. Is this going to be a successful breakout or not? There is still resistance in that 0.0333 region. Given the many other bearish signals, including the head and shoulders pattern, I see this breakout being unsuccessful and still anticipate a drop coming within the day.
